Vanguard Group Inc. Acquires 1,028,512 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Vanguard Group Inc. increased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,811,453 shares of the business services provider’s stock after purchasing an additional 1,028,512 shares during the quarter. Vanguard Group Inc. owned approximately 11.31% of Marathon Digital worth $457,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MARA. Wells Fargo & Company MN grew its stake in shares of Marathon Digital by 46.3% in the fourth quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider’s stock worth $4,011,000 after purchasing an additional 75,668 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Marathon Digital in the fourth quarter worth about $364,000. Raymond James Financial Inc. bought a new stake in Marathon Digital during the 4th quarter valued at approximately $1,408,000. Sterling Capital Management LLC boosted its position in Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Marathon Digital during the 4th quarter valued at approximately $311,000. 44.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MARA has been the topic of several research reports. Cantor Fitzgerald lifted their price objective on Marathon Digital from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Marathon Digital in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised Marathon Digital from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Barclays lifted their price objective on Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, Compass Point raised Marathon Digital from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $15.67 on Friday. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The firm has a market cap of $5.81 billion, a P/E ratio of 14.12 and a beta of 6.24. The company has a 50 day moving average of $16.60 and a 200 day moving average of $15.11. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. During the same period in the previous year, the business earned ($0.72) EPS. The firm’s revenue for the quarter was up 64.0% on a year-over-year basis. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 34,733 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer directly owned 1,413,298 shares in the company, valued at $22,400,773.30. The trade was a 2.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the completion of the transaction, the chief executive officer owned 3,946,504 shares of the company’s stock, valued at approximately $77,035,758.08. The trade was a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,475 shares of company stock valued at $2,219,517. 0.80% of the stock is owned by company insiders.

Marathon Digital Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.