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

MARA Holdings (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $11.45, for a total value of $314,932.25. Following the sale, the chief executive officer directly owned 4,308,192 shares in the company, valued at approximately $49,328,798.40. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MARA Price Performance

Shares of MARA opened at $13.24 on Friday. MARA Holdings has a 12-month low of $6.66 and a 12-month high of $23.45. The business has a 50-day simple moving average of $11.16 and a two-hundred day simple moving average of $11.46. 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 stock has a market cap of $5.11 billion, a PE ratio of -1.45 and a beta of 5.32.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley reissued an “underweight” rating and set a $11.00 target price (up from $6.00) on shares of MARA in a report on Friday. Piper Sandler dropped their price target on shares of MARA from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. BTIG Research reissued a “buy” rating and issued a $27.00 price objective on shares of MARA in a research note on Monday, June 1st. Cantor Fitzgerald decreased their price objective on MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Citizens Jmp assumed coverage on MARA in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price for the company. Eight research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.20.

Key MARA News

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Bitcoin rebound supports MARA: Bitcoin reportedly climbed about 6% toward $81,000, a favorable catalyst for MARA because miners’ revenue and asset values are closely tied to Bitcoin prices. MARA’s substantial Bitcoin holdings and high operating leverage can amplify gains in the cryptocurrency. Why Is MARA Stock Surging on Friday?
• Positive Sentiment: Morgan Stanley raised its outlook: Reports said Morgan Stanley doubled its price target for MARA, adding to bullish sentiment and helping reinforce the stock’s upward momentum. The upgrade was accompanied by broader optimism in Wall Street forecasts for the company. MARA Holdings Stock Jumps After Morgan Stanley Doubles Price Target
• Neutral Sentiment: Infrastructure expansion remains a longer-term catalyst: MARA has reported 35,577 BTC held as of June 30 and 70.3 EH/s of energized hashrate, while pursuing additional powered-land capacity in Texas. These initiatives could expand mining capacity, but execution, capital requirements and Bitcoin volatility remain important risks. Why MARA Holdings Stock Is Up Today
• Negative Sentiment: Rally increases profit-taking risk: MARA had already gained roughly 21% over the preceding month, potentially making the stock vulnerable to consolidation or profit-taking. Quiver also reported open-market insider sales by the CEO, CFO and general counsel, with no reported insider purchases in the past six months. MARA Holdings Just Rallied 21% in a Month

Institutional Trading of MARA

Several institutional investors have recently added to or reduced their stakes in MARA. Sequoia Financial Advisors LLC bought a new stake in shares of MARA in the 2nd quarter valued at $161,000. WINTON GROUP Ltd bought a new position in MARA during the second quarter worth $3,545,000. Engineers Gate Manager LP bought a new position in MARA during the second quarter worth $1,177,000. NewEdge Advisors LLC lifted its holdings in MARA by 14.9% in the second quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider’s stock valued at $171,000 after buying an additional 1,598 shares during the period. Finally, IFP Advisors Inc lifted its holdings in MARA by 1,154.9% in the second quarter. IFP Advisors Inc now owns 2,422 shares of the business services provider’s stock valued at $34,000 after buying an additional 2,229 shares during the period. 44.53% of the stock is currently owned by institutional investors.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.