Marqeta, Inc. $MQ Shares Purchased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Marqeta, acquiring an additional 87,078 shares for a total of 576,033 shares, representing a 17.8% increase in ownership.
• Research firms have raised their price targets for Marqeta, with Goldman Sachs increasing its target from $5.50 to $7.50 and providing a "neutral" rating.
• Insider transactions included significant sales, with CRO Todd Pollak selling 116,493 shares and Director Jason M. Gardner selling 2,250,000 shares, impacting insider ownership to 12.61%.

Graham Capital Management L.P. grew its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 17.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 576,033 shares of the company's stock after buying an additional 87,078 shares during the period. Graham Capital Management L.P. owned approximately 0.11% of Marqeta worth $2,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Marqeta in the 4th quarter worth $288,000. Allspring Global Investments Holdings LLC lifted its holdings in Marqeta by 44.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after buying an additional 20,909 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in Marqeta during the 4th quarter valued at about $1,520,000. Northern Trust Corp lifted its holdings in Marqeta by 3.9% during the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock valued at $16,305,000 after buying an additional 161,968 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Marqeta by 7.6% during the 1st quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock valued at $23,885,000 after buying an additional 411,571 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 31,627 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total transaction of $197,985.02. Following the sale, the director directly owned 15,367,373 shares of the company's stock, valued at $96,199,754.98. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Todd Pollak sold 116,493 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was 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. Over the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. 12.61% of the stock is owned by corporate insiders.

Marqeta Trading Up 0.7%

Shares of NASDAQ:MQ traded up $0.04 on Friday, reaching $6.15. 3,260,575 shares of the company were exchanged, compared to its average volume of 3,880,017. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -47.31 and a beta of 1.55. The company has a 50-day moving average of $6.01 and a 200-day moving average of $5.04.

Analyst Upgrades and Downgrades

MQ has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a report on Wednesday, July 9th. UBS Group lifted their price objective on shares of Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Marqeta in a research report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.