Marathon Digital (NASDAQ:MARA) Trading Down 1.8% After 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.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price fell 1.8% on Wednesday after an insider sold shares in the company. The stock traded as low as $14.48 and last traded at $14.90. 9,883,484 shares were traded during trading, a decline of 76% from the average session 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 stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MARA shares. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Piper Sandler increased their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their price target for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Macquarie increased their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Stock Up 5.0%

The firm has a 50-day simple moving average of $16.57 and a 200 day simple moving average of $15.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $6.03 billion, a PE ratio of 14.68 and a beta of 6.24.

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

Institutional Trading of Marathon Digital

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. State Street Corp grew its stake in Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider's stock worth $210,977,000 after purchasing an additional 191,380 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Marathon Digital by 3.5% in the second quarter. Geode Capital Management LLC now owns 9,225,303 shares of the business services provider's stock worth $144,669,000 after acquiring an additional 315,499 shares during the last quarter. American Century Companies Inc. lifted its holdings in Marathon Digital by 7.8% in the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider's stock worth $106,329,000 after acquiring an additional 491,245 shares during the last quarter. Finally, Marex Group plc bought a new position in Marathon Digital in the second quarter worth about $84,301,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.