Geode Capital Management LLC Increases Stock Position in Marathon Digital Holdings, Inc. $MARA

Geode Capital Management LLC raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,957,766 shares of the business services provider’s stock after purchasing an additional 251,674 shares during the period. Geode Capital Management LLC’s holdings in Marathon Digital were worth $89,434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the last quarter. Danske Bank A S bought a new position in Marathon Digital during the third quarter valued at approximately $55,000. Neo Ivy Capital Management bought a new position in Marathon Digital during the third quarter valued at approximately $79,000. Osaic Holdings Inc. boosted its stake in Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,340 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Marathon Digital by 303.6% during the second quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock valued at $75,000 after buying an additional 3,771 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00. Following the sale, the chief financial officer directly owned 425,066 shares in the company, valued at $5,100,792. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,250 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $99,000.00. Following the sale, the general counsel owned 970,768 shares in the company, valued at approximately $11,649,216. This trade represents a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 180,855 shares of company stock worth $2,033,654 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Marathon Digital Price Performance

Shares of Marathon Digital stock opened at $12.32 on Monday. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average of $11.66 and a 200 day moving average of $10.41. The firm has a market cap of $4.70 billion, a PE ratio of -2.15 and a beta of 5.38.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Rosenblatt Securities increased their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Monday, June 1st. Cantor Fitzgerald dropped their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Morgan Stanley dropped their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 19th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $18.38.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.