Marathon Digital (NASDAQ:MARA) Trading Down 4.7% After Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s share price fell 4.7% during trading on Monday after an insider sold shares in the company. The company traded as low as $17.86 and last traded at $17.99. 18,187,840 shares were traded during mid-day trading, a decline of 66% from the average session volume of 53,819,125 shares. The stock had previously closed at $18.88.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald began coverage on shares of Marathon Digital in a research note on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Macquarie began coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, B. Riley boosted their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital has an average rating of “Hold” and an average target price of $19.79.

Marathon Digital Price Performance

The firm has a market cap of $5.36 billion, a PE ratio of 8.82 and a beta of 5.50. The stock’s fifty day moving average price is $16.34 and its 200-day moving average price is $18.34. 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 released its 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 previous year, the company earned ($0.13) EPS. Marathon Digital’s quarterly revenue was up 77.5% compared to the same quarter last year. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Marathon Digital by 261.1% during 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 acquiring an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Marathon Digital by 186.6% during the 2nd 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 last quarter. Principal Financial Group Inc. boosted its position in shares of 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 valued at $26,892,000 after acquiring an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Marathon Digital by 12.7% during 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 last quarter. Hedge funds and other institutional investors 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.