Marqeta, Inc. $MQ Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Marqeta, Inc. by 11.3% during Q1, now holding approximately 3.48 million shares valued at about $14.3 million.
• Institutional investors collectively own 78.64% of Marqeta's stock, with several firms, including Bank of Montreal and R Squared Ltd, significantly boosting their positions recently.
• Analysts have raised the price target for Marqeta, with Goldman Sachs increasing it from $5.50 to $7.50 and a consensus target of $6.11 among analysts.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,478,666 shares of the company's stock after acquiring an additional 351,794 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Marqeta worth $14,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd raised its position in 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 acquiring an additional 11,296 shares during the last quarter. Blueshift Asset Management LLC raised its position in 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 acquiring an additional 2,333 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Marqeta by 12.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,839 shares of the company's stock worth $572,000 after acquiring an additional 14,902 shares during the last quarter. TD Asset Management Inc raised its position in shares of Marqeta by 8.4% in the first quarter. TD Asset Management Inc now owns 384,100 shares of the company's stock valued at $1,582,000 after buying an additional 29,700 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Marqeta in the first quarter valued at approximately $62,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a research report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective for the company. The Goldman Sachs Group upped their price target on shares of Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Finally, Barclays upped their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Marqeta currently has an average rating of "Hold" and an average target price of $6.11.

Insider Buying and Selling at Marqeta

In related news, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $6.63, for a total value of $14,917,500.00. Following the sale, the director directly owned 15,399,000 shares of the company's stock, valued at $102,095,370. This represents a 12.75% 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, CRO Todd Pollak sold 116,493 shares of the company's stock in a transaction 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 sale, the executive directly owned 364,525 shares in the company, valued at $2,256,409.75. This represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.61% of the company's stock.

Marqeta Price Performance

MQ traded up $0.09 during trading on Thursday, hitting $6.37. The company had a trading volume of 2,521,188 shares, compared to its average volume of 6,470,922. The company has a market cap of $2.85 billion, a PE ratio of -48.96 and a beta of 1.54. The business has a 50-day moving average of $5.93 and a 200-day moving average of $4.91. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04.

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.