MARA (NASDAQ:MARA) CEO Sells $308,606.10 in Stock

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

MARA Stock Performance

Shares of NASDAQ:MARA opened at $11.23 on Monday. MARA Holdings has a 52 week low of $6.66 and a 52 week high of $23.45. The company’s 50 day moving average is $11.23 and its two-hundred day moving average is $11.73. The company has a market cap of $4.34 billion, a PE ratio of -1.23 and a beta of 5.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Cantor Fitzgerald dropped their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of MARA in a research note on Friday, August 7th. Citizens Jmp began coverage on MARA in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target for the company. Piper Sandler dropped their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, HC Wainwright initiated coverage on shares of MARA in a report on Friday, September 11th. They set a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, MARA has an average rating of “Hold” and a consensus price target of $19.20.

Hedge Funds Weigh In On MARA

Several hedge funds have recently made changes to their positions in MARA. Geode Capital Management LLC lifted its holdings in shares of MARA by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after purchasing an additional 251,674 shares during the last quarter. Norges Bank purchased a new stake in MARA in the fourth quarter valued at approximately $39,492,000. Capital World Investors lifted its stake in MARA by 0.6% in the fourth quarter. Capital World Investors now owns 2,954,764 shares of the business services provider’s stock valued at $26,534,000 after buying an additional 19,048 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MARA by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,838,149 shares of the business services provider’s stock valued at $14,999,000 after acquiring an additional 35,978 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of MARA by 11.5% in the first quarter. Hsbc Holdings PLC now owns 634,172 shares of the business services provider’s stock valued at $5,099,000 after acquiring an additional 65,220 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Company Profile

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.