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

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares fell 1.2% on Thursday following insider selling activity. The stock traded as low as $14.43 and last traded at $14.49. 37,343,354 shares were traded during trading, a decline of 17% from the average session 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 firm'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 directly owns 3,983,593 shares of the company's stock, valued at approximately $60,948,972.90. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was 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. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays boosted their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler reduced their price target on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Needham & Company LLC restated a "hold" rating on shares of Marathon Digital in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of "Hold" and a consensus price target of $20.94.

Marathon Digital Stock Down 1.2%

The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -9.99 and a beta of 6.61. The stock has a 50 day simple moving average of $14.60 and a 200 day simple moving average of $16.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62.

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

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association raised its position in Marathon Digital by 3.4% in the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock valued at $320,000 after buying an additional 635 shares during the last quarter. Ranch Capital Advisors Inc. grew its stake in shares of 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 holdings in shares of Marathon Digital by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of 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 valued at $127,000 after purchasing an additional 991 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Marathon Digital by 7.3% during the fourth quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock valued at $244,000 after purchasing an additional 992 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.

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