T. Rowe Price Investment Management Inc. Buys 631,132 Shares of Marqeta, Inc. $MQ

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Marqeta by 3.3%, owning approximately 19.86 million shares valued at $81.82 million as of the latest quarter.
• Marqeta's stock has seen recent insider selling, with notable transactions including CRO Todd Pollak and Director Jason M. Gardner reducing their holdings significantly.
• Analysts have mostly rated Marqeta stock as a "Hold," with target prices ranging from $5.00 to $8.00, reflecting varying optimism among brokerages.

T. Rowe Price Investment Management Inc. boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,860,183 shares of the company's stock after buying an additional 631,132 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.94% of Marqeta worth $81,824,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MQ. Wells Fargo & Company MN boosted its stake in Marqeta by 45.4% in the 4th quarter. Wells Fargo & Company MN now owns 236,696 shares of the company's stock valued at $897,000 after buying an additional 73,851 shares in the last quarter. Bank of Montreal Can boosted its stake in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after buying an additional 49,243 shares in the last quarter. Legal & General Group Plc boosted its stake in Marqeta by 7.9% in the 4th quarter. Legal & General Group Plc now owns 470,747 shares of the company's stock valued at $1,784,000 after buying an additional 34,664 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Marqeta in the 4th quarter valued at $288,000. Finally, Barclays PLC boosted its stake in Marqeta by 29.3% in the 4th quarter. Barclays PLC now owns 1,113,475 shares of the company's stock valued at $4,220,000 after buying an additional 252,061 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Trading Up 0.6%

Shares of MQ traded up $0.04 during trading hours on Wednesday, hitting $6.28. 1,555,153 shares of the stock traded hands, compared to its average volume of 6,488,321. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04. The firm has a market capitalization of $2.81 billion, a PE ratio of -48.19 and a beta of 1.54. The business has a fifty day moving average of $5.92 and a 200-day moving average of $4.90.

Analysts Set New Price Targets

A number of research firms have commented on MQ. The Goldman Sachs Group boosted 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. Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a research note on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective on the stock. UBS Group boosted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Three equities 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.com, Marqeta has an average rating of "Hold" and an average target price of $6.11.

Insider Buying and Selling at Marqeta

In other news, CRO Todd Pollak sold 116,493 shares of the company's 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 owned 364,525 shares of the company's stock, valued at $2,256,409.75. This represents a 24.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 15,399,000 shares in the company, valued at $102,095,370. This trade represents a 12.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.61% of the company's stock.

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.