Marathon Digital (NASDAQ:MARA) Shares Down 1.2% After Insider Selling

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) dropped 1.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $14.43 and last traded at $14.49. Approximately 37,343,354 shares changed hands during trading, a decline of 17% from the average daily volume of 45,181,756 shares. The stock had previously closed at $14.67.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $15.30, for a total transaction of $420,826.50. Following the transaction, the chief executive officer now owns 3,983,593 shares in the company, valued at $60,948,972.90. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer now owns 1,413,298 shares in the company, valued at approximately $22,400,773.30. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Rosenblatt Securities lifted their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Barclays upped their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Compass Point reaffirmed a "sell" rating and issued a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Marathon Digital in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital has an average rating of "Hold" and an average target price of $20.94.

Marathon Digital Stock Down 1.2%

The firm has a market cap of $5.04 billion, a price-to-earnings ratio of -9.88 and a beta of 6.61. The business's 50 day moving average price is $14.69 and its 200 day moving average price is $15.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. Marathon Digital's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. United Services Automobile Association grew its stake in shares of Marathon Digital by 3.4% during the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock worth $320,000 after purchasing an additional 635 shares during the period. Ranch Capital Advisors Inc. increased its holdings in Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after acquiring an additional 805 shares in the last quarter. Mackenzie Financial Corp raised its position in Marathon Digital by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after acquiring an additional 878 shares during the period. Integrated Wealth Concepts LLC raised its position in Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after acquiring an additional 991 shares during the period. Finally, CoreCap Advisors LLC raised its position in Marathon Digital by 7.3% during the fourth quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock worth $244,000 after acquiring an additional 992 shares during the period. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Company Profile

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.