US Bancorp DE Buys 9,444 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

US Bancorp DE boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 265.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,003 shares of the business services provider’s stock after acquiring an additional 9,444 shares during the period. US Bancorp DE’s holdings in Marathon Digital were worth $150,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Marathon Digital by 18.1% in the fourth quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider’s stock valued at $55,233,000 after acquiring an additional 504,142 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marathon Digital by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,108,303 shares of the business services provider’s stock valued at $24,245,000 after buying an additional 67,838 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marathon Digital by 192.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider’s stock valued at $31,817,000 after buying an additional 1,248,292 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Marathon Digital by 31.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,661,132 shares of the business services provider’s stock valued at $27,859,000 after buying an additional 395,476 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Marathon Digital by 19.2% during the 4th quarter. First Trust Advisors LP now owns 1,645,776 shares of the business services provider’s stock valued at $27,600,000 after buying an additional 264,916 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $22.00 in a report on Monday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Macquarie boosted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Cantor Fitzgerald boosted their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Finally, Piper Sandler boosted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $15.67 on Friday. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The business has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $15.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 14.12 and a beta of 6.24.

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

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,733 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the sale, the chief financial officer owned 1,413,298 shares of the company’s stock, valued at $22,400,773.30. This represents a 2.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total transaction of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares of the company’s stock, valued at $77,035,758.08. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,475 shares of company stock valued at $2,219,517. 0.80% of the stock is owned by insiders.

Marathon Digital Company 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.