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

Geode Capital Management LLC boosted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,957,766 shares of the business services provider’s stock after acquiring an additional 251,674 shares during the quarter. Geode Capital Management LLC owned 2.63% of Marathon Digital worth $89,434,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after acquiring an additional 1,394,559 shares during the last quarter. State Street Corp boosted its stake in shares of Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after acquiring an additional 191,380 shares during the last quarter. UBS Group AG boosted its stake in shares of Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after acquiring an additional 6,172,110 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Marathon Digital during the 3rd quarter worth $93,066,000. Finally, Capital Research Global Investors purchased a new position in shares of Marathon Digital during the 3rd quarter worth $68,090,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MARA. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Morgan Stanley cut their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 19th. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.38.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $12.32 on Monday. The stock has a 50-day simple moving average of $11.66 and a two-hundred day simple moving average of $10.41. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $4.70 billion, a PE ratio of -2.15 and a beta of 5.38.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the transaction, the chief financial officer owned 441,066 shares of the company’s stock, valued at $5,151,650.88. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the completion of the transaction, the chief executive officer directly owned 4,788,954 shares of the company’s stock, valued at approximately $43,962,597.72. This trade represents a 0.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 180,855 shares of company stock valued at $2,033,654 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Marathon Digital Profile

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.