Norges Bank Acquires Shares of 2,767,591 MARA Holdings, Inc. (NASDAQ:MARA)

Norges Bank bought a new stake in MARA Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,767,591 shares of the business services provider’s stock, valued at approximately $46,413,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management lifted its holdings in MARA by 26.7% during the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 599 shares during the last quarter. United Services Automobile Association grew its position in shares of MARA by 3.4% in the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider’s stock valued at $320,000 after purchasing an additional 635 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd raised its stake in shares of MARA by 79.3% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 860 shares during the period. New York State Teachers Retirement System lifted its holdings in MARA by 0.5% during the 4th quarter. New York State Teachers Retirement System now owns 277,256 shares of the business services provider’s stock worth $4,650,000 after purchasing an additional 1,299 shares in the last quarter. Finally, US Bancorp DE boosted its stake in MARA by 73.3% in the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider’s stock worth $60,000 after purchasing an additional 1,505 shares during the period. Institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares in the company, valued at $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the transaction, the chief executive officer now owns 3,910,843 shares in the company, valued at $65,232,861.24. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,710 shares of company stock worth $1,226,825. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MARA. B. Riley increased their price target on shares of MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC restated a “hold” rating on shares of MARA in a research report on Thursday, February 27th. Piper Sandler lowered their price target on MARA from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Barclays cut their price objective on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.80.

MARA Stock Up 0.6 %

Shares of MARA opened at $11.30 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. MARA Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The stock has a 50 day simple moving average of $14.71 and a two-hundred day simple moving average of $17.89. The firm has a market cap of $3.91 billion, a P/E ratio of 14.30 and a beta of 6.09.

MARA (NASDAQ:MARA) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. On average, analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

About MARA

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.