Marathon Digital (NASDAQ:MARA) Shares Gap Down Following Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $18.88, but opened at $18.32. Marathon Digital shares last traded at $18.30, with a volume of 4,919,898 shares trading hands.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at $74,389,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the transaction, the chief financial officer now directly owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Thursday, October 10th. B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. Finally, Macquarie began coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $19.79.

Marathon Digital Stock Performance

The business has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $18.34. The company has a market cap of $5.29 billion, a PE ratio of 8.70 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds have recently modified their holdings of MARA. Vanguard Group Inc. boosted its stake in Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after buying an additional 441,455 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Marathon Digital by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. grew its position in Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC increased its position in Marathon Digital by 12.7% in the 2nd quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock valued at $26,477,000 after acquiring an additional 149,805 shares during the period. 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.