Marqeta, Inc. $MQ Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC reduced its stake in Marqeta, Inc. by 38.2%, now holding approximately 0.12% of the company with shares valued at $2.26 million.
• Marqeta's stock price decreased by 2.1% and currently trades at $5.69, with a 12-month high of $7.04 and a low of $3.37.
• Analysts have diverse ratings for Marqeta, with Goldman Sachs raising its price target from $5.50 to $7.50, while three analysts give the stock a Buy rating and the average rating is "Hold".

Voya Investment Management LLC lowered its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 38.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 547,487 shares of the company's stock after selling 337,861 shares during the period. Voya Investment Management LLC owned about 0.12% of Marqeta worth $2,256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MQ. Price T Rowe Associates Inc. MD grew its holdings in shares of Marqeta by 126.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock valued at $169,322,000 after purchasing an additional 22,928,070 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Marqeta during the 4th quarter valued at $19,717,000. Jacobs Levy Equity Management Inc. purchased a new stake in Marqeta during the 1st quarter valued at $6,154,000. Nuveen LLC purchased a new stake in Marqeta during the 1st quarter valued at $5,420,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in Marqeta by 3.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 19,860,183 shares of the company's stock valued at $81,824,000 after buying an additional 631,132 shares during the period. Institutional investors own 78.64% of the company's stock.

Insider Buying and Selling at Marqeta

In other news, Director Jason M. Gardner sold 31,627 shares of the stock in a transaction 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 represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Todd Pollak sold 116,493 shares of the company's stock in a transaction dated 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 transaction, the executive owned 364,525 shares in the company, valued at approximately $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. In the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. Insiders own 12.61% of the company's stock.

Analyst Ratings Changes

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

Marqeta Price Performance

NASDAQ:MQ traded up $0.04 during trading hours on Monday, hitting $5.73. 2,608,047 shares of the stock traded hands, compared to its average volume of 3,592,849. The stock has a 50 day moving average price of $6.00 and a 200 day moving average price of $5.19. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04.

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.