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Principal Financial Group Inc. Lowers Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

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

Several other large investors have also recently added to or reduced their stakes in MARA. United Services Automobile Association grew its position in Marathon Digital by 3.4% in the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock valued at $320,000 after acquiring an additional 635 shares during the last quarter. Mackenzie Financial Corp grew its position in Marathon Digital by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after acquiring an additional 878 shares during the last quarter. CoreCap Advisors LLC grew its position in Marathon Digital by 7.3% in the fourth quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock valued at $244,000 after acquiring an additional 992 shares during the last quarter. NewEdge Advisors LLC grew its position in Marathon Digital by 28.9% in the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock valued at $78,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Marathon Digital by 13.2% in the fourth quarter. Baird Financial Group Inc. now owns 10,620 shares of the business services provider's stock valued at $178,000 after acquiring an additional 1,238 shares during the last quarter. Institutional investors own 44.53% of the company's stock.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the sale, the chief financial officer owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 199,853 shares of company stock worth $3,072,049 in the last ninety days. 0.80% of the stock is owned by insiders.

Marathon Digital Trading Up 0.7%

MARA traded up $0.14 on Friday, hitting $19.14. 54,696,318 shares of the company were exchanged, compared to its average volume of 45,288,156. The firm has a fifty day simple moving average of $15.65 and a two-hundred day simple moving average of $15.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The stock has a market capitalization of $6.74 billion, a PE ratio of -13.20 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (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 company had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same quarter in the previous year, the business earned $1.26 earnings per share. Marathon Digital's revenue was up 29.5% compared to the same quarter last year. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MARA. 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 report on Monday, May 5th. Barclays lifted their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Rosenblatt Securities lifted their price target on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. HC Wainwright reissued a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.94.

Check Out Our Latest Report on Marathon Digital

Marathon Digital Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Marathon Digital (NASDAQ:MARA)

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