Arnhold LLC Has $8.87 Million Stock Holdings in Marqeta, Inc. $MQ

Key Points

• Arnhold LLC increased its holdings in Marqeta, Inc. by 17.4%, acquiring an additional 319,102 shares, bringing its total ownership to approximately 2,153,014 shares valued at $8.87 million.
• Insider activity included Director Jason M. Gardner selling 2.25 million shares at an average price of $6.63, resulting in a decrease of 12.75% in his ownership.
• Marqeta’s stock currently has an average price target of $6.11, with brokerages giving it a consensus rating of "Hold".

Arnhold LLC grew its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,153,014 shares of the company's stock after purchasing an additional 319,102 shares during the period. Arnhold LLC owned approximately 0.43% of Marqeta worth $8,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MQ. Price T Rowe Associates Inc. MD increased its stake in shares of Marqeta by 126.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock valued at $169,322,000 after purchasing an additional 22,928,070 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Marqeta in the 4th quarter valued at $72,879,000. RPD Fund Management LLC bought a new position in shares of Marqeta in the 4th quarter valued at $37,289,000. Wellington Management Group LLP bought a new position in shares of Marqeta in the 4th quarter valued at $19,717,000. Finally, North Reef Capital Management LP increased its stake in shares of Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock valued at $29,513,000 after purchasing an additional 3,886,999 shares during the last quarter. Institutional investors own 78.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MQ shares. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research report on Thursday, July 17th. They set a "hold" rating and a $6.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group boosted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. The Goldman Sachs Group boosted their price objective on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.11.

Marqeta Stock Up 1.1%

Shares of NASDAQ MQ traded up $0.07 during trading on Tuesday, reaching $6.24. The company had a trading volume of 3,355,452 shares, compared to its average volume of 6,519,846. The company's fifty day moving average price is $5.90 and its 200-day moving average price is $4.89. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.04. The stock has a market cap of $2.80 billion, a P/E ratio of -48.00 and a beta of 1.54.

Insider Activity at Marqeta

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

Marqeta Company Profile

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.