FORA Capital LLC Acquires Shares of 89,611 Marqeta, Inc. $MQ

Key Points

• FORA Capital LLC purchased 89,611 shares of Marqeta, Inc. valued at approximately $369,000, indicating growing institutional interest in the company.
• Marqeta's stock opened at $6.37, showing significant fluctuations with a 1-year low of $3.37 and a high of $7.04, highlighting its volatility in the market.
• Analysts have generally rated Marqeta stock as a "Hold," with price target adjustments ranging from $5.00 to $8.00, as they assess its performance and outlook.

FORA Capital LLC bought a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 89,611 shares of the company's stock, valued at approximately $369,000.

Several other institutional investors also recently bought and sold shares of MQ. Stifel Financial Corp acquired a new position in Marqeta in the 4th quarter valued at about $41,000. Blueshift Asset Management LLC grew its position in shares of Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after buying an additional 2,333 shares in the last quarter. R Squared Ltd grew its position in shares of Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock worth $54,000 after buying an additional 11,296 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Marqeta during the first quarter worth about $62,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Marqeta by 36.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock worth $73,000 after buying an additional 5,154 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MQ has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target for the company. The Goldman Sachs Group upped their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. UBS Group upped their price target on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Barclays upped their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.11.

Marqeta Price Performance

NASDAQ:MQ traded down $0.01 during mid-day trading on Friday, reaching $6.36. The company's stock had a trading volume of 3,423,616 shares, compared to its average volume of 5,033,718. The company's fifty day simple moving average is $5.97 and its two-hundred day simple moving average is $4.97. The stock has a market cap of $2.85 billion, a P/E ratio of -48.92 and a beta of 1.55. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.04.

Insider Transactions at Marqeta

In other news, Director Jason M. Gardner sold 2,250,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the transaction, the director directly owned 15,399,000 shares in the company, valued at $102,095,370. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $6.19, for a total value of $721,091.67. Following the sale, the executive owned 364,525 shares in the company, valued at approximately $2,256,409.75. The trade was a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.61% of the company's stock.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.