Insider Selling: Marathon Digital (NASDAQ:MARA) General Counsel Sells $81,612.90 in Stock

by · The Markets Daily

Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) General Counsel Zabi Nowaid sold 4,887 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $16.70, for a total value of $81,612.90. Following the sale, the general counsel directly owned 752,489 shares of the company’s stock, valued at $12,566,566.30. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Zabi Nowaid also recently made the following trade(s):

  • On Monday, November 10th, Zabi Nowaid sold 25,113 shares of Marathon Digital stock. The shares were sold at an average price of $15.87, for a total value of $398,543.31.

Marathon Digital Stock Down 1.8%

Shares of NASDAQ:MARA traded down $0.29 during mid-day trading on Monday, hitting $15.58. 36,992,334 shares of the company traded hands, compared to its average volume of 46,338,434. The stock has a 50-day moving average price of $18.09 and a two-hundred day moving average price of $16.69. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The stock has a market cap of $5.89 billion, a P/E ratio of 14.04 and a beta of 6.40. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MARA. 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 price target on the stock. Macquarie increased their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. BTIG Research restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald reduced their target price on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Guggenheim started coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Get Our Latest Research Report on Marathon Digital

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the last quarter. Fifth Third Bancorp lifted its stake in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. CX Institutional grew its holdings in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 749 shares during the period. Archer Investment Corp grew its holdings in Marathon Digital by 10.9% during the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 750 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after buying an additional 799 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

About Marathon Digital

(Get Free Report)

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.

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