Elevatus Welath Management Takes $1.28 Million Position in Marathon Digital Holdings, Inc. $MARA

Elevatus Welath Management bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 81,726 shares of the business services provider’s stock, valued at approximately $1,281,000.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Marathon Digital by 265.4% during the first quarter. US Bancorp DE now owns 13,003 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 9,444 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock valued at $457,832,000 after purchasing an additional 1,028,512 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Marathon Digital by 9.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider’s stock valued at $38,210,000 after buying an additional 294,161 shares in the last quarter. Deutsche Bank AG increased its position in shares of Marathon Digital by 14.3% during the first quarter. Deutsche Bank AG now owns 1,120,035 shares of the business services provider’s stock valued at $12,880,000 after buying an additional 140,273 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Marathon Digital by 17.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,558 shares of the business services provider’s stock worth $144,000 after buying an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer directly owned 3,718,700 shares of the company’s stock, valued at $72,774,959. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 218,711 shares of company stock valued at $3,633,801. 0.80% of the stock is owned by corporate insiders.

Marathon Digital Stock Down 2.7%

Shares of NASDAQ:MARA opened at $11.52 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $15.61 and a two-hundred day simple moving average of $16.17. Marathon Digital Holdings, Inc. has a 12-month low of $9.71 and a 12-month high of $25.58. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 6.40 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. On average, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MARA shares. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, November 24th. Rosenblatt Securities decreased their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Finally, Macquarie increased their target price on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.50.

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.