MARA Holdings executives sell shares amid quarterly losses

Executives at MARA Holdings, including CEO Frederick Thiel, CFO Salman Khan, and Chief Legal Officer Nowaid Zabi, recently sold significant portions of company stock. The transactions occurred within a few days of each other under pre-arranged Rule 10b5-1 trading plans.

Thiel sold 27,505 shares at an average price of $11.45, totaling approximately $314,932. Khan sold 16,000 shares at the same price, while Zabi sold 8,376 shares at a weighted average of $12.10. These sales preceded a rise in the stock price, which reached $13.24 during subsequent trading.

The stock activity follows a period of financial volatility for the company. In its most recent quarterly report, MARA recorded a net loss of $611.3 million, compared to a net profit of $808.2 million in the same quarter of the previous year. The company also reported earnings per share of -$1.60, missing analyst expectations. JPMorgan has since downgraded the stock to 'Underweight' with a price target of $11.