New York State Common Retirement Fund Has $1.22 Million Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

New York State Common Retirement Fund boosted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 24.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,719 shares of the business services provider's stock after purchasing an additional 21,100 shares during the quarter. New York State Common Retirement Fund's holdings in Marathon Digital were worth $1,216,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Marathon Digital during the fourth quarter valued at about $46,413,000. Vanguard Group Inc. raised its position in Marathon Digital by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock worth $650,390,000 after acquiring an additional 2,706,271 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Marathon Digital by 192.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after acquiring an additional 1,248,292 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Marathon Digital in the fourth quarter worth about $13,416,000. Finally, Wellington Management Group LLP increased its stake in Marathon Digital by 1,726.2% in the 4th quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider's stock worth $12,015,000 after purchasing an additional 677,199 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on MARA shares. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Barclays increased their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Piper Sandler upped their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their target price for the company from $9.50 to $18.00 in a research note on Friday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.22.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction 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 approximately $22,400,773.30. The trade was a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 55,010 shares of Marathon Digital stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer owned 4,146,804 shares of the company's stock, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is owned by company insiders.

Marathon Digital Stock Down 0.1%

MARA stock traded down $0.01 during mid-day trading on Friday, reaching $17.25. The company had a trading volume of 39,013,845 shares, compared to its average volume of 49,610,772. 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 stock has a 50 day simple moving average of $16.39 and a two-hundred day simple moving average of $15.41. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -11.90 and a beta of 6.53. Marathon Digital Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS 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 business had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Marathon Digital Company 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.