Insider Selling: Marathon Digital (NASDAQ:MARA) CFO Sells $192,000.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the sale, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at $5,100,792. The trade was a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salman Hassan Khan also recently made the following trade(s):

• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $11.68, for a total transaction of $186,880.00.
• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $9.18, for a total transaction of $146,880.00.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $13.81 on Friday. The company has a 50-day simple moving average of $10.62 and a 200-day simple moving average of $10.51. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -2.41 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The business had revenue of $202.31 million during the quarter, compared to analysts’ expectations of $250.74 million. During the same period in the previous year, the company posted $1.24 earnings per share. Marathon Digital’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MARA. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Rosenblatt Securities increased their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Morgan Stanley cut their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Marathon Digital presently has an average rating of “Hold” and an average price target of $18.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management grew its holdings in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after buying an additional 1,300 shares during the last quarter. Bessemer Group Inc. grew its holdings in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Danske Bank A S acquired a new stake in Marathon Digital during the 3rd quarter valued at $55,000. Ascentis Independent Advisors acquired a new stake in Marathon Digital during the 1st quarter valued at $28,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Marathon Digital during the 4th quarter valued at $36,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.