Marathon Digital Holdings, Inc. $MARA Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,379 shares of the business services provider’s stock after selling 18,895 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Marathon Digital were worth $1,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 2,001 shares in the last quarter. CX Institutional raised its holdings in shares of Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 749 shares in the last quarter. Archer Investment Corp raised its holdings in shares of Marathon Digital by 6,800.0% in the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 6,800 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,032 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MARA shares. Cantor Fitzgerald lifted their price target on shares of Marathon Digital from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Rosenblatt Securities lifted their price target on shares of Marathon Digital from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Guggenheim started coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Piper Sandler lifted their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.20.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares of the company’s stock, valued at $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the transaction, the chief executive officer owned 3,718,700 shares in the company, valued at approximately $72,774,959. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 204,598 shares of company stock valued at $3,616,374. Insiders own 0.80% of the company’s stock.

Marathon Digital Trading Up 2.9%

Shares of Marathon Digital stock opened at $18.27 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. 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 company has a market capitalization of $6.77 billion, a P/E ratio of 16.46 and a beta of 6.33. The company’s fifty day moving average is $18.01 and its two-hundred day moving average is $16.54.

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.