Marqeta, Inc. $MQ Shares Bought by T. Rowe Price Investment Management Inc.

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

Several other large investors have also recently made changes to their positions in MQ. Capital Fund Management S.A. purchased a new stake in Marqeta in the 1st quarter valued at $596,000. Quantbot Technologies LP grew its stake in shares of Marqeta by 99.7% in the 1st quarter. Quantbot Technologies LP now owns 123,815 shares of the company's stock valued at $510,000 after buying an additional 61,818 shares during the period. Versor Investments LP acquired a new stake in shares of Marqeta during the 1st quarter worth approximately $500,000. American Century Companies Inc. grew its position in Marqeta by 17.6% in the first quarter. American Century Companies Inc. now owns 780,164 shares of the company's stock worth $3,214,000 after acquiring an additional 116,999 shares during the period. Finally, Sei Investments Co. increased its position in shares of Marqeta by 331.1% during the 1st quarter. Sei Investments Co. now owns 71,911 shares of the company's stock worth $291,000 after purchasing an additional 55,229 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Marqeta Stock Performance

MQ stock traded up $0.03 during midday trading on Thursday, hitting $6.31. 1,650,168 shares of the stock were exchanged, compared to its average volume of 6,466,011. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.04. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -48.50 and a beta of 1.54. The stock's 50-day moving average price is $5.93 and its 200-day moving average price is $4.91.

Insider Buying and Selling at Marqeta

In other news, Director Jason M. Gardner sold 2,250,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the sale, the director owned 15,399,000 shares in the company, valued at $102,095,370. This trade represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Todd Pollak sold 116,493 shares of the business'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 completion of the sale, the executive owned 364,525 shares of the company's stock, 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. Company 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.