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

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Stifel Financial Corp purchased a new position in Marqeta during the fourth quarter worth about $41,000. Alpine Global Management LLC purchased a new position in Marqeta during the first quarter worth about $42,000. Blueshift Asset Management LLC boosted its holdings in Marqeta by 23.2% during the first 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 last quarter. R Squared Ltd boosted its holdings in Marqeta by 624.1% during the first 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 last quarter. Finally, AQR Capital Management LLC purchased a new position in Marqeta during the first quarter worth about $57,000. 78.64% of the stock is owned by institutional investors.

Marqeta Trading Down 2.3%

Shares of NASDAQ MQ traded down $0.14 during midday trading on Friday, hitting $5.83. The company's stock had a trading volume of 2,552,644 shares, compared to its average volume of 3,566,071. The stock has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.12. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -44.85 and a beta of 1.55. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.04.

Wall Street Analysts Forecast Growth

MQ has been the topic of several analyst reports. UBS Group boosted their price target on shares of Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Marqeta has an average rating of "Hold" and a consensus target price of $6.11.

Insider Buying and Selling

In related news, CRO Todd Pollak sold 116,493 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $6.19, for a total transaction 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. This represents a 24.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jason M. Gardner sold 31,627 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 in the company, valued at $96,199,754.98. This trade represents a 0.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,398,120 shares of company stock worth $15,836,577 in the last ninety days. 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.