Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. reduced its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,922 shares of the business services provider's stock after selling 26,931 shares during the period. SBI Securities Co. Ltd. owned approximately 0.05% of Marathon Digital worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MARA. Park Square Financial Group LLC purchased a new position in Marathon Digital during the fourth quarter worth about $27,000. Sterling Capital Management LLC grew its holdings in Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,426 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Marathon Digital during the 4th quarter worth approximately $50,000. US Bancorp DE grew its position in shares of Marathon Digital by 73.3% in the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after buying an additional 1,505 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Marathon Digital by 211.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock worth $64,000 after acquiring an additional 2,375 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Marathon Digital Trading Down 2.0%

Shares of Marathon Digital stock traded down $0.39 during mid-day trading on Friday, hitting $19.58. 34,913,864 shares of the stock were exchanged, compared to its average volume of 44,987,474. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of -13.48 and a beta of 6.53. The company has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $15.40. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released 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 firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same period in the prior year, the business earned $1.26 earnings per share. Marathon Digital's revenue for the quarter was up 29.5% on a year-over-year basis. Research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In related news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.30, for a total transaction of $420,826.50. Following the completion of the sale, the chief executive officer directly owned 3,983,593 shares in the company, valued at $60,948,972.90. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 234,585 shares of company stock valued at $3,733,694. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on MARA shares. JPMorgan Chase & Co. upped their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Piper Sandler cut their price target on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 5th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Barclays raised their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Compass Point restated a "sell" rating and set a $9.50 target price (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.94.

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.