Principal Financial Group Inc. Trims Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Principal Financial Group Inc. cut its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 11.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,693,888 shares of the business services provider's stock after selling 217,928 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Marathon Digital worth $19,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MARA. Vanguard Group Inc. boosted its stake in 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 worth $650,390,000 after buying an additional 2,706,271 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Marathon Digital by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock worth $128,755,000 after acquiring an additional 518,503 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Marathon Digital by 44.3% in the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock worth $67,749,000 after acquiring an additional 1,240,354 shares during the last quarter. Northern Trust Corp boosted its position in shares of Marathon Digital by 18.1% during the 4th quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider's stock worth $55,233,000 after purchasing an additional 504,142 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marathon Digital by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock valued at $50,787,000 after purchasing an additional 372,094 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Stock Up 0.4%

Marathon Digital stock traded up $0.07 during trading on Monday, reaching $19.21. The stock had a trading volume of 86,662,618 shares, compared to its average volume of 45,419,866. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The stock has a market cap of $6.76 billion, a PE ratio of -13.25 and a beta of 6.53. The business has a 50 day moving average price of $15.65 and a 200 day moving average price of $15.32.

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 analysts' consensus estimates 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 analyst estimates of $234.19 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business's revenue for the quarter was up 29.5% on a year-over-year basis. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays upped their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler decreased their target price on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Rosenblatt Securities boosted their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.94.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer directly owned 4,146,804 shares in the company, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was 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 in the company, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,853 shares of company stock valued at $3,072,049. 0.80% of the stock is currently owned by corporate 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.