Sei Investments Co. Acquires 55,229 Shares of Marqeta, Inc. $MQ

Key Points

• Sei Investments Co. increased its stake in Marqeta, Inc. by 331.1%, acquiring a total of 71,911 shares valued at $291,000 as of its latest filing.
• Director Jason M. Gardner sold 2,250,000 shares on August 7th for $14.9 million, resulting in a 12.75% decrease in his ownership.
• Analysts have mixed ratings for Marqeta, with a consensus hold rating and an average price target of $6.11, up from several previous targets.

Sei Investments Co. boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 331.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,911 shares of the company's stock after purchasing an additional 55,229 shares during the period. Sei Investments Co.'s holdings in Marqeta were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Blueshift Asset Management LLC boosted its stake in shares of Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after purchasing an additional 2,333 shares during the period. California State Teachers Retirement System boosted its stake in shares of Marqeta by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock valued at $1,443,000 after purchasing an additional 2,343 shares during the period. Arizona State Retirement System raised its stake in shares of Marqeta by 3.2% during the first quarter. Arizona State Retirement System now owns 120,131 shares of the company's stock valued at $495,000 after acquiring an additional 3,734 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Marqeta by 8.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company's stock worth $188,000 after purchasing an additional 3,938 shares during the period. Finally, apricus wealth LLC grew its stake in shares of Marqeta by 33.2% in the first quarter. apricus wealth LLC now owns 18,000 shares of the company's stock worth $74,000 after purchasing an additional 4,490 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Stock Down 1.6%

Shares of MQ stock traded down $0.10 during trading hours on Tuesday, hitting $6.07. 3,864,169 shares of the company's stock traded hands, compared to its average volume of 6,632,857. The stock's fifty day simple moving average is $5.84 and its two-hundred day simple moving average is $4.81. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.04. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -46.69 and a beta of 1.54.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. The Goldman Sachs Group raised their price target on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a report on Wednesday, July 9th. 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. Finally, 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 on the stock. Three investment 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, Marqeta presently has an average rating of "Hold" and a consensus target price of $6.11.

Insider Buying and Selling at Marqeta

In other 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 completion of the transaction, the executive owned 364,525 shares of the company's stock, valued at $2,256,409.75. The trade was a 24.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason M. Gardner sold 2,250,000 shares of Marqeta stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the completion of the transaction, the director directly owned 15,399,000 shares of the company's stock, valued at approximately $102,095,370. This represents a 12.75% decrease in their position. The disclosure for this sale can be found here. 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.