Jump Financial LLC Acquires 379,800 Shares of Marqeta, Inc. $MQ

Key Points

• Jump Financial LLC has increased its stake in Marqeta, Inc. by 229.9%, acquiring an additional 379,800 shares, bringing its total ownership to 544,994 shares worth approximately $2.25 million.
• Institutional investors collectively own 78.64% of Marqeta's stock, with several firms, including Wells Fargo and MetLife, recently boosting their positions.
• The stock price of Marqeta opened at $6.24 recently, with a 12-month trading range between $3.37 and $7.04, reflecting interest amid several recent analyst upgrades.

Jump Financial LLC boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 229.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 544,994 shares of the company's stock after acquiring an additional 379,800 shares during the period. Jump Financial LLC owned 0.11% of Marqeta worth $2,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in shares of Marqeta by 45.4% in the 4th quarter. Wells Fargo & Company MN now owns 236,696 shares of the company's stock worth $897,000 after purchasing an additional 73,851 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Marqeta in the fourth quarter valued at about $288,000. MetLife Investment Management LLC boosted its holdings in Marqeta by 3.5% during the fourth quarter. MetLife Investment Management LLC now owns 279,462 shares of the company's stock worth $1,059,000 after buying an additional 9,368 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Marqeta by 36.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock worth $73,000 after buying an additional 5,154 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of Marqeta during the 4th quarter worth about $41,000. Institutional investors own 78.64% of the company's stock.

Insider Transactions at Marqeta

In other Marqeta news, CRO Todd Pollak sold 116,493 shares of Marqeta stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $6.19, for a total value of $721,091.67. Following the sale, the executive owned 364,525 shares of the company's stock, valued at $2,256,409.75. This trade represents a 24.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction dated 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 sale, the director owned 15,399,000 shares in the company, valued at approximately $102,095,370. This trade represents a 12.75% 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.

Marqeta Stock Up 1.1%

Shares of NASDAQ:MQ opened at $6.24 on Wednesday. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.04. The company's fifty day simple moving average is $5.92 and its 200 day simple moving average is $4.90. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -48.00 and a beta of 1.54.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Marqeta in a research note on Thursday, July 17th. They set a "hold" rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Barclays boosted their price target on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. The Goldman Sachs Group raised their price objective on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.11.

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.

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