MARA (NASDAQ:MARA) CEO Sells 27,505 Shares of Company Stock

MARA Holdings (NASDAQ:MARA – Get Free Report) CEO Frederick Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total value of $308,606.10. Following the sale, the chief executive officer owned 4,217,586 shares of the company’s stock, valued at approximately $47,321,314.92. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MARA Stock Up 0.2%

Shares of MARA stock traded up $0.02 on Friday, hitting $11.23. 42,198,459 shares of the company’s stock traded hands, compared to its average volume of 42,648,000. The stock has a market cap of $4.34 billion, a P/E ratio of -1.23 and a beta of 5.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm’s 50-day moving average is $11.23 and its 200 day moving average is $11.71. MARA Holdings has a 52-week low of $6.66 and a 52-week high of $23.45.

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MARA (NASDAQ:MARA – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). The company had revenue of $174.88 million during the quarter, compared to the consensus estimate of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Equities analysts anticipate that MARA Holdings will post -1.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on MARA. Weiss Ratings raised MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $11.00 price target (down from $13.00) on shares of MARA in a research report on Monday, September 14th. Citizens Jmp began coverage on MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price objective on the stock. Piper Sandler reduced their price objective on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of MARA in a report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.20.

Read Our Latest Stock Analysis on MARA

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in MARA by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after buying an additional 251,674 shares during the last quarter. Norges Bank bought a new position in shares of MARA during the fourth quarter worth about $39,492,000. Capital World Investors increased its holdings in shares of MARA by 0.6% in the 4th quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock worth $26,534,000 after acquiring an additional 19,048 shares during the period. Principal Financial Group Inc. increased its holdings in shares of MARA by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock worth $14,999,000 after acquiring an additional 35,978 shares during the period. Finally, Headlands Technologies LLC lifted its position in MARA by 51.2% in the 2nd quarter. Headlands Technologies LLC now owns 444,756 shares of the business services provider’s stock valued at $6,178,000 after purchasing an additional 150,665 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

(Get Free Report)

MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.

In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.

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