Geode Capital Management LLC Boosts Stake in MARA Holdings, Inc. (NASDAQ:MARA)

Geode Capital Management LLC boosted its stake in shares of MARA Holdings, Inc. (NASDAQ:MARA) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,157,491 shares of the business services provider’s stock after buying an additional 378,542 shares during the quarter. Geode Capital Management LLC’s holdings in MARA were worth $116,115,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in MARA by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the period. Public Sector Pension Investment Board purchased a new stake in shares of MARA in the second quarter worth $11,920,000. Finally, Rhumbline Advisers increased its stake in shares of MARA by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay P. Leupp sold 6,800 shares of MARA stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.90, for a total transaction of $203,320.00. Following the transaction, the director now directly owns 135,756 shares of the company’s stock, valued at approximately $4,059,104.40. This represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,922 shares of company stock worth $2,651,807 over the last three months. 0.97% of the stock is owned by insiders.

MARA Price Performance

MARA stock opened at $24.60 on Wednesday. The firm’s fifty day moving average is $20.92 and its 200 day moving average is $19.29. MARA Holdings, Inc. has a 52-week low of $13.16 and a 52-week high of $34.09. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 31.28 and a beta of 5.63.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The company had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $140.26 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. Sell-side analysts forecast that MARA Holdings, Inc. will post -1.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on MARA shares. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $25.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $12.00 to $23.00 in a research note on Tuesday, December 10th. Piper Sandler assumed coverage on MARA in a research note on Tuesday. They set an “overweight” rating and a $34.00 target price on the stock. Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, Macquarie lifted their price objective on shares of MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.50.

MARA 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.