Charles Schwab Investment Management Inc. Has $14.33 Million Stock Holdings in Marqeta, Inc. $MQ

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. raised its position in 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 buying an additional 351,794 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of Marqeta worth $14,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Marqeta during the fourth quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD grew its holdings in Marqeta by 5,396.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the last quarter. RPD Fund Management LLC acquired a new stake in Marqeta in the fourth quarter valued at $37,289,000. Wellington Management Group LLP acquired a new stake in Marqeta in the fourth quarter valued at $19,717,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Marqeta by 30.6% during the fourth quarter. Two Sigma Advisers LP now owns 5,071,400 shares of the company's stock valued at $19,221,000 after acquiring an additional 1,188,100 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Insider Buying and Selling at Marqeta

In other news, CRO Todd Pollak sold 116,493 shares of the business's stock in a transaction on Friday, August 15th. The stock was 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 of the company's stock, valued at approximately $2,256,409.75. The trade was a 24.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction on 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 completion of the sale, the director directly owned 15,399,000 shares in the company, valued at $102,095,370. This represents a 12.75% decrease in their position. The disclosure for this sale can be found here. 12.61% of the stock is owned by insiders.

Marqeta Stock Down 0.2%

Marqeta stock traded down $0.01 during mid-day trading on Friday, hitting $6.36. 3,423,616 shares of the company's stock traded hands, compared to its average volume of 5,111,576. The firm has a 50 day moving average price of $5.97 and a 200 day moving average price of $4.95. The company has a market cap of $2.85 billion, a PE ratio of -48.92 and a beta of 1.54. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.04.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MQ shares. Keefe, Bruyette & Woods increased their price objective on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Barclays raised their target price on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.11.

Marqeta 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.