Arizona State Retirement System Grows Position in MARA Holdings, Inc. (NASDAQ:MARA)

Arizona State Retirement System boosted its stake in MARA Holdings, Inc. (NASDAQ:MARA) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,476 shares of the business services provider’s stock after purchasing an additional 4,050 shares during the quarter. Arizona State Retirement System’s holdings in MARA were worth $1,433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in MARA by 5.6% in the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock valued at $116,115,000 after purchasing an additional 378,542 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in MARA by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares during the period. Bank of New York Mellon Corp grew its holdings in MARA by 8.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,040,465 shares of the business services provider’s stock valued at $34,219,000 after purchasing an additional 150,367 shares during the period. Principal Financial Group Inc. grew its holdings in MARA by 37.4% in the fourth quarter. Principal Financial Group Inc. now owns 1,911,816 shares of the business services provider’s stock valued at $32,061,000 after purchasing an additional 519,900 shares during the period. Finally, Van ECK Associates Corp grew its holdings in MARA by 51.6% in the fourth quarter. Van ECK Associates Corp now owns 1,676,840 shares of the business services provider’s stock valued at $28,120,000 after purchasing an additional 570,803 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MARA shares. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of MARA from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $23.00 in a research note on Tuesday, December 10th. Piper Sandler decreased their price objective on shares of MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.30.

Insider Activity at MARA

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $392,450.00. Following the sale, the chief financial officer now directly owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $646,367.50. Following the completion of the sale, the chief executive officer now directly owns 4,128,090 shares in the company, valued at $97,010,115. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,915 shares of company stock valued at $2,265,643 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

MARA Price Performance

Shares of MARA stock opened at $13.11 on Thursday. The company has a market capitalization of $4.53 billion, a PE ratio of 16.59 and a beta of 5.95. The firm has a fifty day simple moving average of $16.90 and a 200-day simple moving average of $18.34. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. MARA Holdings, Inc. has a twelve month low of $12.05 and a twelve month high of $30.28.

MARA (NASDAQ:MARA) last announced its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The business had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. Equities research analysts anticipate 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.