Marathon Digital (NASDAQ:MARA) Stock Price Down 1.8% Following Insider Selling

Key Points

• Shares of Marathon Digital fell by 1.8% amid insider selling, with significant volume drops reported during trading.
• CEO Frederick G. Thiel and CFO Salman Hassan Khan sold shares, affecting their ownership percentages and signaling potential investor concern.
• Analysts show a positive outlook, with several increasing their price targets for the stock, indicating a Moderate Buy recommendation on average.

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) dropped 1.8% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $14.48 and last traded at $14.90. Approximately 9,883,484 shares traded hands during trading, a decline of 76% from the average daily volume of 41,942,270 shares. The stock had previously closed at $15.17.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the completion of the transaction, the chief financial officer owned 353,160 shares in the company, valued at $5,555,206.80. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MARA. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Cantor Fitzgerald boosted 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. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The stock's 50-day moving average is $16.57 and its 200-day moving average is $15.02.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the previous year, the company earned ($0.72) EPS. Marathon Digital's quarterly revenue was up 64.0% compared to the same quarter last year. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in shares of Marathon Digital by 307.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after acquiring an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Marathon Digital by 1,521.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after purchasing an additional 12,032 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Marathon Digital by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock valued at $3,485,000 after purchasing an additional 3,998 shares in the last quarter. Stifel Financial Corp increased its stake in Marathon Digital by 59.3% during the 4th quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock valued at $696,000 after purchasing an additional 15,447 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Marathon Digital by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 125,578 shares of the business services provider's stock valued at $1,444,000 after purchasing an additional 4,297 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

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.