Banque Pictet & Cie SA Acquires New Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Banque Pictet & Cie SA purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,869 shares of the business services provider's stock, valued at approximately $343,000.

A number of other hedge funds have also made changes to their positions in MARA. Norges Bank acquired a new position in shares of Marathon Digital during the fourth quarter valued at approximately $46,413,000. Vanguard Group Inc. increased its stake in shares of Marathon Digital by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after acquiring an additional 2,706,271 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Marathon Digital by 192.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock valued at $31,817,000 after acquiring an additional 1,248,292 shares during the period. American Century Companies Inc. increased its stake in shares of Marathon Digital by 44.3% during the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock valued at $67,749,000 after acquiring an additional 1,240,354 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Marathon Digital during the fourth quarter valued at approximately $13,416,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MARA. JPMorgan Chase & Co. raised their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Rosenblatt Securities raised their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Compass Point reiterated a "sell" rating and set a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Finally, Piper Sandler decreased their price target on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.94.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, June 16th. The shares were sold at an average price of $15.30, for a total transaction of $420,826.50. Following the completion of the sale, the chief executive officer owned 3,983,593 shares of the company's stock, valued at $60,948,972.90. This trade represents a 0.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Douglas K. Mellinger sold 3,000 shares of Marathon Digital stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, valued at $2,829,744. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 199,853 shares of company stock valued at $3,072,049 in the last quarter. Company insiders own 0.80% of the company's stock.

Marathon Digital Trading Up 0.7%

NASDAQ MARA traded up $0.14 on Friday, hitting $19.14. 54,696,318 shares of the stock were exchanged, compared to its average volume of 45,288,731. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -13.20 and a beta of 6.53. The company's 50-day moving average price is $15.65 and its two-hundred day moving average price is $15.38.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The company's revenue for the quarter was up 29.5% on a year-over-year basis. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

About Marathon Digital

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.