Norges Bank Invests $39.49 Million in Marathon Digital Holdings, Inc. $MARA

Norges Bank acquired a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,397,792 shares of the business services provider’s stock, valued at approximately $39,492,000. Norges Bank owned approximately 1.16% of Marathon Digital at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Marathon Digital by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after buying an additional 4,049,979 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Marathon Digital during the 3rd quarter valued at about $4,643,000. Farallon Capital Management LLC raised its position in shares of Marathon Digital by 338.3% during the 3rd quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after buying an additional 2,825,000 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Marathon Digital by 446.6% during the 3rd quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after buying an additional 261,085 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Marathon Digital during the 4th quarter valued at $10,201,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a report 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 report on Friday, May 1st. BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Finally, Morgan Stanley reduced their price objective on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 19th. 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 stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $18.38.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $192,000.00. Following the sale, the chief financial officer owned 425,066 shares in the company, valued at $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock in a transaction on Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $330,060.00. Following the completion of the sale, the chief executive officer owned 4,589,514 shares in the company, valued at approximately $55,074,168. The trade was a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 quarter. Company insiders own 0.80% of the company’s stock.

Marathon Digital Stock Performance

MARA stock opened at $13.78 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $11.76 and its two-hundred day simple moving average is $10.42. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -2.41 and a beta of 5.38.

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.