Jacobs Levy Equity Management Inc. Invests $6.15 Million in Marqeta, Inc. $MQ

Key Points

• Jacobs Levy Equity Management Inc. has invested approximately $6.15 million in Marqeta, acquiring over 1.49 million shares during the first quarter.
• Multiple analysts have increased their price targets for Marqeta, with a consensus target of $6.11 and a majority rating it as "Hold."
• Recent insider trading saw significant stock sales, with insiders selling nearly 2.4 million shares in the last 90 days, representing a total value of approximately $15.8 million.

Jacobs Levy Equity Management Inc. acquired a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,493,570 shares of the company's stock, valued at approximately $6,154,000. Jacobs Levy Equity Management Inc. owned 0.30% of Marqeta at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Stifel Financial Corp purchased a new position in shares of Marqeta in the 4th quarter worth about $41,000. Alpine Global Management LLC purchased a new position in shares of Marqeta in the 1st quarter worth about $42,000. Blueshift Asset Management LLC raised its holdings in shares of Marqeta by 23.2% in the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after purchasing an additional 2,333 shares during the period. R Squared Ltd raised its holdings in shares of Marqeta by 624.1% in the 1st quarter. R Squared Ltd now owns 13,106 shares of the company's stock worth $54,000 after purchasing an additional 11,296 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Marqeta in the 1st quarter worth about $57,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Marqeta Stock Down 1.1%

Shares of NASDAQ MQ opened at $6.08 on Tuesday. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.04. The business has a 50 day moving average price of $6.01 and a two-hundred day moving average price of $5.07. The firm has a market cap of $2.73 billion, a PE ratio of -46.77 and a beta of 1.55.

Insider Buying and Selling

In other Marqeta news, 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 owned 364,525 shares in the company, valued at $2,256,409.75. This trade represents a 24.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason M. Gardner sold 31,627 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total value of $197,985.02. Following the sale, the director owned 15,367,373 shares of the company's stock, valued at approximately $96,199,754.98. This trade represents a 0.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,398,120 shares of company stock valued at $15,836,577. 12.61% of the stock is owned by insiders.

About Marqeta

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.

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