Douglas K. Mellinger, a director at MARA Holdings, Inc. (NASDAQ:MARA), recently sold 1,000 shares of common stock, according to a recent SEC filing. The transaction, executed on December 12, 2024, was completed at a price of $23.80 per share, totaling $23,800. Following this sale, Mellinger holds 138,756 shares in the company. The sale comes as MARA's stock shows strong momentum, with a 26% gain over the past six months and current trading at $24.56. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
The sale was conducted under a Rule 10b5-1 trading plan, which Mellinger adopted on May 13, 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, providing a defense against potential accusations of insider trading. For deeper insights into MARA's valuation metrics and 20 additional key ProTips, including volatility patterns and financial health indicators, visit InvestingPro, where comprehensive Pro Research Reports are available for over 1,400 US stocks.
In other recent news, Marathon Digital (NASDAQ:MARA) Holdings has been the subject of several analyst adjustments. JPMorgan (NYSE:JPM) upgraded its rating from Underweight to Neutral, setting a new price target at $23.00, up from the previous $12.00. This change was accompanied by a notable expansion in Marathon Digital's self-mining capacity, with the acquisition of approximately 800 megawatts (MW). This growth has resulted in a significant 131% revenue increase over the past year.
The company also successfully closed an $850 million private offering of convertible senior notes, with net proceeds of approximately $835.1 million. These funds are expected to be allocated towards various corporate purposes, including the acquisition of more Bitcoin and potential strategic acquisitions.
Barclays (LON:BARC) initiated coverage on Marathon Digital with an Equal Weight rating and a price target of $27.00. The firm highlighted the company's strategic shift towards owning more mining facilities as a positive move. Meanwhile, Compass Point downgraded its stance from Buy to Neutral but increased its price target to $25.00.
Marathon Digital has been expanding its operations, recently adding approximately 372MW across three sites in Ohio. The company also closed a $1 billion senior convertible notes offering, indicating strong institutional interest in Bitcoin exposure. These are the recent developments for Marathon Digital Holdings.
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