350,934 Shares in Marathon Digital Holdings, Inc. $MARA Bought by Edgestream Partners L.P.

Key Points

• Edgestream Partners L.P. acquired 350,934 Marathon Digital shares during the first quarter, valued at approximately $2.86 million and representing about 0.09% of the company.
• Institutional investors own 44.53% of Marathon Digital, while company insiders sold 109,260 shares worth roughly $1.45 million during the latest quarter under pre-arranged trading plans.
• Analyst views remain mixed but lean positive: Marathon has a “Moderate Buy” consensus rating and an average price target of $18.50, compared with a recent share price of $11.32.

Edgestream Partners L.P. acquired a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 350,934 shares of the business services provider's stock, valued at approximately $2,864,000. Edgestream Partners L.P. owned approximately 0.09% of Marathon Digital at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ascentis Independent Advisors purchased a new stake in shares of Marathon Digital in the 1st quarter valued at about $28,000. Bogart Wealth LLC boosted its position in shares of Marathon Digital by 4,345.1% in the 1st quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider's stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in Marathon Digital during the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. grew its stake in Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider's stock worth $45,000 after buying an additional 3,893 shares during the last quarter. Finally, Danske Bank A S increased its position in Marathon Digital by 93.3% during the fourth quarter. Danske Bank A S now owns 5,800 shares of the business services provider's stock worth $52,000 after buying an additional 2,800 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insider Buying and Selling

In other Marathon Digital news, General Counsel Zabi Nowaid sold 7,000 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $99,750.00. Following the transaction, the general counsel directly owned 963,768 shares in the company, valued at approximately $13,733,694. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $228,000.00. Following the completion of the transaction, the chief financial officer directly owned 409,066 shares in the company, valued at approximately $5,829,190.50. The trade was a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 109,260 shares of company stock valued at $1,452,756 in the last quarter. 0.97% of the stock is currently owned by insiders.

Marathon Digital Stock Performance

NASDAQ MARA opened at $11.32 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45. The business's 50-day moving average price is $13.12 and its 200 day moving average price is $11.02. The firm has a market cap of $4.32 billion, a P/E ratio of -1.98 and a beta of 5.36.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Marathon Digital from $7.00 to $5.50 and set an "underweight" rating for the company in a research note on Wednesday, July 8th. Citizens Jmp started coverage on shares of Marathon Digital in a research report on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 target price on the stock. Weiss Ratings cut shares of Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, May 12th. Piper Sandler reduced their price target on shares of Marathon Digital from $16.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Finally, Rosenblatt Securities upped their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.50.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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