Principal Financial Group Inc. Buys 37,150 Shares of MARA Holdings, Inc. (NASDAQ:MARA)

Principal Financial Group Inc. grew its stake in MARA Holdings, Inc. (NASDAQ:MARA) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,391,916 shares of the business services provider’s stock after purchasing an additional 37,150 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of MARA worth $22,577,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in MARA by 261.1% in 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 during the last quarter. Bank of New York Mellon Corp boosted 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 worth $40,485,000 after purchasing an additional 1,327,969 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in MARA in the 2nd quarter worth about $11,920,000. Vanguard Group Inc. grew its position in MARA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after buying an additional 439,309 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Trading Down 14.0 %

Shares of MARA stock opened at $21.70 on Thursday. The stock has a market capitalization of $6.39 billion, a P/E ratio of 27.47 and a beta of 5.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The stock’s 50-day simple moving average is $17.09 and its 200 day simple moving average is $18.54. MARA Holdings, Inc. has a 52-week low of $8.88 and a 52-week high of $34.09.

Insider Activity at MARA

In related news, CEO Frederick G. Thiel sold 27,512 shares of MARA stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’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 completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,417 shares of company stock worth $1,524,546. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MARA has been the topic of a number of research analyst reports. Cantor Fitzgerald began coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of MARA in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Macquarie assumed coverage on shares of MARA in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of MARA in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MARA currently has an average rating of “Hold” and a consensus price target of $21.57.

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.