Vanguard Group Inc. Has $457.83 Million Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Key Points

• Vanguard Group Inc. increased its stake in Marathon Digital Holdings by 2.7%, acquiring an additional 1,028,512 shares during the 1st quarter, bringing its total ownership to approximately 39.8 million shares.
• Multiple institutional investors have also shown interest in Marathon Digital, with Wells Fargo increasing its ownership by 46.3% in the last quarter.
• Analyst ratings have been generally positive, with Cantor Fitzgerald and JPMorgan upgrading their price targets, leading to a consensus target price of $24.22 for the stock.

Vanguard Group Inc. increased its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,811,453 shares of the business services provider's stock after acquiring an additional 1,028,512 shares during the period. Vanguard Group Inc. owned approximately 11.31% of Marathon Digital worth $457,832,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MARA. Wells Fargo & Company MN grew its holdings in Marathon Digital by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock worth $4,011,000 after acquiring an additional 75,668 shares during the period. Federated Hermes Inc. acquired a new position in Marathon Digital during the fourth quarter worth about $364,000. Raymond James Financial Inc. purchased a new position in Marathon Digital in the 4th quarter worth about $1,408,000. Sterling Capital Management LLC increased its stake in Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Marathon Digital in the 4th quarter worth about $311,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the completion of the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at $77,035,758.08. The trade was a 0.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $19.05, for a total value of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares of the company's stock, valued at approximately $6,183,096.60. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,475 shares of company stock valued at $2,219,517. 0.80% of the stock is owned by corporate insiders.

Marathon Digital Stock Down 0.5%

NASDAQ:MARA traded down $0.08 on Friday, hitting $15.67. 37,051,771 shares of the company's stock traded hands, compared to its average volume of 43,152,496. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The firm has a 50-day moving average price of $16.60 and a 200-day moving average price of $15.09. The company has a market cap of $5.81 billion, a PE ratio of 14.12 and a beta of 6.24.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The firm's revenue was up 64.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.72) EPS. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price target on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Macquarie lifted their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, Barclays lifted 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $24.22.

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.