Prudential Financial Inc. Purchases 33,186 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Prudential Financial boosted its stake in Marathon Digital by 10% in Q2, buying 33,186 shares to hold 365,639 shares worth about $5.73 million.
• Company insiders have been active sellers — the CFO sold 34,732 shares at $11.99 and the CEO sold 27,505 shares at $17.38 — with insiders offloading 234,598 shares (~$3.88M) in the last quarter, leaving insider ownership at 0.80%.
• Analysts are mixed but positive on balance: the consensus rating is a “Moderate Buy” with an average price target of $23.50 (8 Buys vs. 5 Holds and several recent target revisions).

Prudential Financial Inc. grew its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,639 shares of the business services provider's stock after buying an additional 33,186 shares during the quarter. Prudential Financial Inc. owned 0.10% of Marathon Digital worth $5,733,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Marathon Digital by 18.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,276 shares of the business services provider's stock valued at $785,000 after acquiring an additional 10,811 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Marathon Digital by 265.4% in the 1st quarter. US Bancorp DE now owns 13,003 shares of the business services provider's stock valued at $150,000 after purchasing an additional 9,444 shares in the last quarter. R Squared Ltd increased its stake in shares of Marathon Digital by 129.9% in the 1st quarter. R Squared Ltd now owns 20,070 shares of the business services provider's stock valued at $231,000 after purchasing an additional 11,340 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Marathon Digital during the 1st quarter worth $14,810,000. Finally, Thoroughbred Financial Services LLC lifted its position in shares of Marathon Digital by 49.8% during the 1st quarter. Thoroughbred Financial Services LLC now owns 57,925 shares of the business services provider's stock worth $666,000 after buying an additional 19,250 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the sale, the chief financial officer owned 283,298 shares of the company's stock, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the transaction, the chief executive officer owned 3,755,789 shares of the company's stock, valued at $65,275,612.82. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 234,598 shares of company stock valued at $3,876,481 in the last quarter. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MARA has been the subject of several research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Marathon Digital in a research note on Monday, November 24th. Compass Point upgraded shares of Marathon Digital from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. Macquarie raised their target price on shares of Marathon Digital from $26.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday, October 22nd. Rosenblatt Securities decreased their target price on shares of Marathon Digital from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on Marathon Digital from $20.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Marathon Digital Stock Up 6.5%

NASDAQ:MARA opened at $11.83 on Friday. Marathon Digital Holdings, Inc. has a one year low of $9.71 and a one year high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $4.47 billion, a PE ratio of 10.66 and a beta of 6.40. The firm's 50 day simple moving average is $16.80 and its 200 day simple moving average is $16.44.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 85.02% and a negative return on equity of 2.11%. On average, research analysts anticipate 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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