Marathon Digital (NASDAQ:MARA) Trading Down 3.4% After Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was down 3.4% during trading on Friday following insider selling activity. The stock traded as low as $19.00 and last traded at $19.57. Approximately 49,436,281 shares were traded during trading, an increase of 5% from the average daily volume of 46,878,371 shares. The stock had previously closed at $20.26.

Specifically, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total transaction of $789,805.68. Following the transaction, the chief financial officer directly owned 318,030 shares in the company, valued at approximately $7,232,002.20. This trade represents a 9.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MARA shares. Piper Sandler increased their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a research report on Wednesday, October 8th. Compass Point began coverage on shares of Marathon Digital in a research report on Monday, September 15th. They set a “neutral” rating and a $18.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Marathon Digital Price Performance

The stock’s 50-day moving average is $17.31 and its 200 day moving average is $15.99. 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 cap of $7.25 billion, a PE ratio of 17.63 and a beta of 6.33.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of Marathon Digital by 10.0% in the first quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock worth $10,549,000 after buying an additional 83,242 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after buying an additional 20,413 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Marathon Digital by 7.7% in the second quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider’s stock worth $18,396,000 after buying an additional 83,649 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Marathon Digital by 307.7% in the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock worth $729,000 after buying an additional 47,826 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its holdings in shares of Marathon Digital by 26.9% in the second quarter. Fiduciary Alliance LLC now owns 72,735 shares of the business services provider’s stock worth $1,140,000 after buying an additional 15,426 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.