Principal Financial Group Inc. Buys 519,900 Shares of MARA Holdings, Inc. (NASDAQ:MARA)

Principal Financial Group Inc. increased its stake in shares of MARA Holdings, Inc. (NASDAQ:MARA) by 37.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,911,816 shares of the business services provider’s stock after purchasing an additional 519,900 shares during the quarter. Principal Financial Group Inc.’s holdings in MARA were worth $32,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D grew its position in MARA by 4.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 111,819 shares of the business services provider’s stock worth $1,875,000 after acquiring an additional 4,945 shares during the last quarter. Game Plan Financial Advisors LLC bought a new stake in shares of MARA in the 4th quarter worth approximately $61,000. Beacon Capital Management LLC bought a new stake in shares of MARA in the 4th quarter worth approximately $26,000. Rhumbline Advisers grew its position in shares of MARA by 6.6% in the 4th quarter. Rhumbline Advisers now owns 834,057 shares of the business services provider’s stock worth $13,987,000 after buying an additional 51,643 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of MARA by 415.6% in the 4th quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider’s stock worth $56,000 after buying an additional 2,693 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. B. Riley lifted their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Piper Sandler assumed coverage on MARA in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $34.00 price objective on the stock. Compass Point lowered MARA from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of MARA in a research report on Wednesday, December 4th. Finally, Barclays assumed coverage on MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.67.

Insider Buying and Selling at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $646,367.50. Following the completion of the transaction, the chief executive officer now owns 4,128,090 shares in the company, valued at approximately $97,010,115. The trade was a 0.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA 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 transaction, the chief financial officer now owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,215 shares of company stock worth $2,540,158. 0.80% of the stock is owned by insiders.

MARA Trading Down 8.1 %

NASDAQ MARA opened at $14.66 on Friday. The stock’s 50 day moving average is $18.42 and its 200 day moving average is $18.53. The firm has a market capitalization of $4.98 billion, a PE ratio of 18.56 and a beta of 5.76. MARA Holdings, Inc. has a twelve month low of $13.16 and a twelve month 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.

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.