Headlands Technologies LLC Grows Holdings in Marqeta, Inc. (NASDAQ:MQ)

Key Points

• Headlands Technologies LLC significantly increased its stake in Marqeta, owning 67,998 shares after a 671.7% growth during the 1st quarter, indicating strong institutional interest in the company.
• Marqeta's targets have been raised by several analysts, with UBS Group increasing their target price from $5.00 to $5.75 and a consensus rating of "Hold" with an average price target of $6.11 from MarketBeat.
• In a recent insider transaction, Director Jason M. Gardner sold 2,250,000 shares at an average price of $6.63, resulting in a 12.75% decrease in his ownership of Marqeta stock.

Headlands Technologies LLC increased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 671.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,998 shares of the company's stock after purchasing an additional 59,187 shares during the period. Headlands Technologies LLC's holdings in Marqeta were worth $280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Marqeta by 11.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,478,666 shares of the company's stock valued at $14,332,000 after acquiring an additional 351,794 shares during the period. R Squared Ltd boosted its holdings in Marqeta by 624.1% in the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock valued at $54,000 after purchasing an additional 11,296 shares during the last quarter. Blueshift Asset Management LLC raised its stake in Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after buying an additional 2,333 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Marqeta by 12.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 138,839 shares of the company's stock valued at $572,000 after buying an additional 14,902 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Marqeta by 8.4% during 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 in the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Stock Performance

Shares of NASDAQ MQ traded up $0.06 during trading hours on Wednesday, hitting $6.49. 3,354,232 shares of the stock were exchanged, compared to its average volume of 6,683,271. The company has a market cap of $3.04 billion, a PE ratio of -49.92 and a beta of 1.54. The company's fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $4.74. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. The Goldman Sachs Group increased their price objective on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods increased their price objective on Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. UBS Group increased their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $6.11.

Insider Buying and Selling

In related news, Director Jason M. Gardner sold 2,250,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 15,399,000 shares of the company's stock, valued at $102,095,370. This represents a 12.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.61% of the stock is currently owned by 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.