CFO Mara Holdings sells over $262,000 worth of company stock to Investing.com

MARA Holdings, Inc. (NASDAQ:MARA) reported that its chief financial officer, Khan Salman Hassan, sold a significant amount of shares in the company. According to the latest documents, the CFO sold 16,700 shares at a price of $15.70, amounting to more than $262,190. This transaction, as noted in the filings, was made pursuant to a Rule 10b5-1 trading plan that was adopted on June 18, 2024.

In addition to the sale, the filings also showed that the CFO had stock held back to cover tax liabilities associated with the grant of restricted stock units (RSUs). These holdovers, which are not open market transactions, totaled $2,012,306 with prices ranging from $16.06 to $22.56 per share. Shares retained in reported transactions totaled 101,860.

The transactions took place on several dates, with the most recent sale occurring on September 16, 2024. It is important to note that the reported sale was planned in advance, indicating that it was not based on immediate market conditions or the company’s current operations .

Investors following MARA Holdings will be interested to know that following these transactions, the CFO still holds a substantial number of shares in the company. Updated filings show Khan Salman Hassan holds 2,103,347 shares after the reported sale.

These filings provide transparency to investors regarding the stock trading activities of company insiders, providing insights into the company’s value and prospects. As with all insider trading, these are reported to the public to ensure fair access to information that can influence investment decisions.

In other recent news, Marathon Digital (NASDAQ: ) Holdings reported significant changes to its board of directors and financial operations. The digital asset computing technology company has welcomed Janet George and Barbara Humpton to its board, replacing Kevin DeNuccio and Said Ouissal. Doug Mellinger was also appointed as lead independent director. These new appointments, according to Marathon Digital, aim to strengthen the board’s oversight capabilities and contribute to the company’s leadership in the digital infrastructure technology sector.

In financial developments, Marathon Digital reported a net loss of $200 million in the second quarter of 2024, despite a 78% increase in revenue to $145 million. The company continues to hold more than 20,000 as a strategic asset and is advancing its operations with new technology, expecting to see revenue growth over the next 18 to 24 months.

In addition, the company announced its intention to offer $250 million in convertible senior notes due 2031, with the goal of using the net proceeds from the sale to purchase additional bitcoin and for general corporate purposes.

In addition, Marathon Digital reported an 11% month-over-month increase in its powered hashrate to 35.2 exahashes per second, despite a slight decrease in the number of blocks won and a 3% drop in production of bitcoins.

Analysts note Marathon Digital’s focus on technology and expect new revenue streams to expand in the future. The company is also exploring partnerships and M&A opportunities in the AI, energy storage and generation sectors related to Bitcoin mining.

InvestingPro Insights

Amid news of MARA Holdings’ CFO selling a significant portion of the company’s stock, investors may seek additional context to better understand the company’s financial health and market position. According to real-time data from InvestingPro, MARA Holdings boasts a market capitalization of $4.59 billion, highlighting its substantial size within its sector. The company’s P/E ratio is 12.67, which suggests that the stock could be trading at a reasonable price relative to its earnings. Notably, the company posted an impressive 224.69% revenue growth over the past twelve months through Q2 2024, a measure that underscores the company’s rapid expansion in its market.

InvestingPro Advice indicates that analysts are bullish on MARA Holdings’ sales growth for the current year. This is crucial information for investors given the CFO’s recent share sale, as it suggests the company’s growth trajectory is expected to continue despite the insider deal. Moreover, the data reveals that the company has been profitable for the past twelve months, which may provide some reassurance to investors worried about the CFO’s decision to sell shares.

It’s also worth noting that MARA Holdings’ share price movements have been quite volatile, according to another InvestingPro tip. This volatility could be a factor in the CFO’s decision to sell shares, as insiders often seek to diversify their holdings in the face of uncertain market conditions. For investors interested in a deeper analysis, additional InvestingPro Tips are available that provide more nuanced insights into MARA Holdings’ financial position and market performance.

For those looking to further explore company valuation and stock performance, InvestingPro offers a comprehensive set of tips, with the current list including 15 additional tips that can be accessed through the InvestingPro platform.

This article was generated with AI support and reviewed by an editor. For more information, see T&C.