FORT LAUDERDALE, FL—Khan Salman Hassan, the Chief Financial Officer of MARA Holdings, Inc. (NASDAQ:MARA), a company with a market capitalization of $7.1 billion and demonstrating strong returns over recent months according to InvestingPro data, sold 16,700 shares of the company's common stock on December 16, according to a recent SEC filing. The shares were sold at a price of $23.50 each, amounting to a total transaction value of approximately $392,450.
Following the sale, Khan retains direct ownership of 1,836,129 shares in the company. Additionally, he holds indirect ownership of 176,818 shares through the S & N Khan Family Trust, where he and his spouse serve as trustees. The sale was conducted under a Rule 10b5-1 trading plan, a pre-established plan that allows insiders to sell stock under specific conditions, which Khan adopted on June 18, 2024. For deeper insights into insider trading patterns and comprehensive analysis of MARA's financial health (rated as GOOD by InvestingPro), subscribers can access the detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, Marathon Digital (NASDAQ:MARA) Holdings, a leading bitcoin mining company, has been the focus of several analyst notes and business developments. Piper Sandler initiated coverage on Marathon Digital with an Overweight rating and a price target set at $34.00, citing its significant mining capacity and substantial corporate bitcoin treasury. JPMorgan also adjusted its stance on the company, upgrading its rating from Underweight to Neutral and increasing the price target to $23.00. This adjustment reflects Marathon Digital's substantial expansion in self-mining capacity, which has driven a 131% revenue growth over the last twelve months.
In addition, the company successfully closed an $850 million private offering of convertible senior notes. The net proceeds from this offering, totaling approximately $835.1 million, are earmarked for various corporate purposes, including the acquisition of more bitcoin and possible strategic acquisitions. Barclays (LON:BARC) and Compass Point have issued an Equal Weight rating for Marathon Digital, with price targets set at $27.00 and $25.00, respectively.
The surge in Bitcoin's value past the $100,000 mark has positively impacted various companies with exposure to cryptocurrency, including Marathon Digital. This surge followed the appointment of Paul Atkins as the new Chair of the Securities and Exchange Commission (SEC), a move seen as favorable for the crypto industry. Marathon Digital has also been expanding its operations, recently adding approximately 372MW across three sites in Ohio. These are the latest developments for Marathon Digital.
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