138,700 Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA) Purchased by LifePro Asset Management

LifePro Asset Management bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 138,700 shares of the business services provider’s stock, valued at approximately $2,250,000. Marathon Digital comprises approximately 1.4% of LifePro Asset Management’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tobam lifted its stake in Marathon Digital by 173.0% in the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 4,880 shares during the last quarter. Sara Bay Financial lifted its position in shares of Marathon Digital by 2.3% during the 3rd quarter. Sara Bay Financial now owns 116,514 shares of the business services provider’s stock valued at $1,890,000 after buying an additional 2,610 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Marathon Digital by 19.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 70,700 shares of the business services provider’s stock worth $1,147,000 after acquiring an additional 11,600 shares during the last quarter. SRN Advisors LLC raised its stake in Marathon Digital by 136.4% in the 2nd quarter. SRN Advisors LLC now owns 151,252 shares of the business services provider’s stock valued at $3,002,000 after acquiring an additional 87,274 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Marathon Digital during the second quarter worth about $1,518,000. 44.53% of the stock is owned by institutional investors.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,212 shares of company stock valued at $726,178. Insiders own 0.97% of the company’s stock.

Marathon Digital Price Performance

MARA stock opened at $15.23 on Friday. The firm has a 50-day moving average of $16.14 and a 200 day moving average of $18.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The company has a market cap of $4.48 billion, a P/E ratio of 9.76 and a beta of 5.50. Marathon Digital Holdings, Inc. has a 1 year low of $7.55 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on MARA shares. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday. B. Riley boosted their price objective on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research note on Thursday. They set an “overweight” rating and a $21.00 price target on the stock. Finally, Macquarie began coverage on Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.79.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.