Invesco Ltd. Has $23.89 Million Stock Position in Marqeta, Inc. $MQ

Key Points

• Invesco Ltd. increased its stake in Marqeta, Inc. by 7.6%, owning approximately 5.8 million shares valued at $23.9 million as of the latest SEC filing.
• Marqeta's stock was trading at $5.98, with a market cap of $2.68 billion, showing a fifty-two week low of $3.37 and a high of $7.04.
• Multiple institutional investors, including T. Rowe Price and North Reef Capital, significantly increased their holdings in Marqeta during the previous quarter, reflecting a growing confidence in the company's future.

Invesco Ltd. grew its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,797,217 shares of the company's stock after buying an additional 411,571 shares during the quarter. Invesco Ltd. owned about 1.15% of Marqeta worth $23,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Marqeta during the first quarter worth $143,000. Swiss National Bank raised its holdings in shares of Marqeta by 3.0% in the first quarter. Swiss National Bank now owns 812,400 shares of the company's stock worth $3,347,000 after acquiring an additional 23,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Marqeta by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,445 shares of the company's stock worth $278,000 after acquiring an additional 6,771 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Marqeta by 671.7% in the first quarter. Headlands Technologies LLC now owns 67,998 shares of the company's stock worth $280,000 after acquiring an additional 59,187 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marqeta by 11.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,478,666 shares of the company's stock worth $14,332,000 after acquiring an additional 351,794 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marqeta news, Director Jason M. Gardner sold 2,250,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the transaction, 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 filing with the SEC, which is available through the SEC website. Also, CRO Todd Pollak sold 116,493 shares of the stock in a transaction 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 transaction, the executive directly owned 364,525 shares in the company, valued at $2,256,409.75. The trade was a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MQ has been the subject of a number of analyst reports. Barclays boosted their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Keefe, Bruyette & Woods boosted their price target on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Marqeta in a research report on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on Marqeta from $5.50 to $7.50 and gave the stock 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 company. According to data from MarketBeat, Marqeta currently has a consensus rating of "Hold" and a consensus target price of $6.11.

Marqeta Stock Up 0.1%

NASDAQ MQ traded up $0.0050 on Monday, reaching $6.1850. 1,349,309 shares of the stock traded hands, compared to its average volume of 6,529,384. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.04. The firm's fifty day simple moving average is $5.89 and its 200 day simple moving average is $4.88. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -47.65 and a beta of 1.54.

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.