JPMorgan Chase & Co. Sells 938,490 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• JPMorgan Chase reduced its Marathon Digital position by 38.6%, selling 938,490 shares in Q2 and retaining 1,495,523 shares (~0.40% of the company) valued at $23.45 million.
• Analysts are mixed but generally positive: MarketBeat shows a consensus of "Moderate Buy" with a $23.50 target, though several firms issued differing views — including JPMorgan cutting its price objective from $20 to $13.
• Insiders have been net sellers recently, offloading 234,598 shares (~$3.88 million) in the last three months (CEO sold 27,505 shares); insiders now own 0.80% of the stock while institutions own 44.53%.

JPMorgan Chase & Co. reduced its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 38.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,495,523 shares of the business services provider's stock after selling 938,490 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Marathon Digital worth $23,450,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MARA. US Bancorp DE raised its holdings in Marathon Digital by 265.4% during the first quarter. US Bancorp DE now owns 13,003 shares of the business services provider's stock worth $150,000 after buying an additional 9,444 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Marathon Digital by 49.8% during the first quarter. Thoroughbred Financial Services LLC now owns 57,925 shares of the business services provider's stock valued at $666,000 after buying an additional 19,250 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Marathon Digital by 9.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock worth $38,210,000 after acquiring an additional 294,161 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Marathon Digital by 14.3% in the 1st quarter. Deutsche Bank AG now owns 1,120,035 shares of the business services provider's stock valued at $12,880,000 after acquiring an additional 140,273 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BTIG Research reissued a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Compass Point raised Marathon Digital from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Cantor Fitzgerald lowered their price target on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $20.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Marathon Digital in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the transaction, the chief executive officer directly owned 3,755,789 shares of the company's stock, valued at $65,275,612.82. This represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki Mealer-Burke sold 14,887 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the sale, the director owned 58,103 shares of the company's stock, valued at approximately $884,327.66. The trade was a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 234,598 shares of company stock valued at $3,876,481 in the last three months. Insiders own 0.80% of the company's stock.

Marathon Digital Stock Down 0.2%

Shares of NASDAQ:MARA opened at $12.44 on Friday. The company has a market capitalization of $4.70 billion, a PE ratio of 6.91 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The business has a fifty day moving average price of $16.37 and a two-hundred day moving average price of $16.33. Marathon Digital Holdings, Inc. has a 1 year low of $9.71 and a 1 year high of $28.07.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). The business had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. Analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share 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.

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