Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 34,732 Shares

Key Points

• Marathon Digital's CFO, Salman Hassan Khan, sold 34,732 shares for a total of $564,047.68, reducing his ownership by 9.83% to approximately 318,428 shares valued at around $5.17 million.
• The company's stock price recently traded down to $17.34, with a significant 1-year price range between $9.81 and $30.28, and a market capitalization of $6.42 billion.
• Marathon Digital reported a $1.84 EPS for the last quarter, exceeding expectations, with revenue growth of 64.0% year-over-year, demonstrating strong financial performance amid a volatile market.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. The trade was a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Salman Hassan Khan also recently made the following trade(s):

• On Friday, August 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The shares were sold at an average price of $15.73, for a total transaction of $546,334.36.
• On Tuesday, July 15th, Salman Hassan Khan sold 34,732 shares of Marathon Digital stock. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60.

Marathon Digital Stock Performance

NASDAQ:MARA traded down $0.21 during trading hours on Friday, hitting $18.29. 62,723,905 shares of the company were exchanged, compared to its average volume of 62,780,952. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 16.48 and a beta of 6.35. The company's 50 day moving average price is $16.60 and its 200-day moving average price is $15.15.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping the consensus estimate of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.72) earnings per share. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital in the fourth quarter valued at approximately $27,000. Fifth Third Bancorp raised its stake in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new position in Marathon Digital in the 2nd quarter valued at $31,000. IFP Advisors Inc lifted its holdings in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after purchasing an additional 2,001 shares in the last quarter. Finally, CX Institutional acquired a new stake in Marathon Digital during the 1st quarter worth $68,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on MARA. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $19.00 to $22.00 in a research note on Monday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. BTIG Research reiterated a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Cantor Fitzgerald raised their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Compass Point began coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.