Marqeta, Inc. $MQ Holdings Lowered by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Marqeta, Inc. by 2.6%, owning approximately 0.83% of the company, valued at around $17.3 million after selling 111,240 shares.
• Shares of Marqeta currently trade at around $6.17, with a market cap of $2.77 billion and a consensus analysts' rating of "Hold" with a price target of $6.11.
• Insider trading activity includes CRO Todd Pollak selling 116,493 shares and Director Jason M. Gardner selling 2,250,000 shares, indicating notable movements in company ownership.

Northern Trust Corp cut its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,190,753 shares of the company's stock after selling 111,240 shares during the quarter. Northern Trust Corp owned approximately 0.83% of Marqeta worth $17,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. RPD Fund Management LLC purchased a new stake in Marqeta during the 4th quarter worth approximately $37,289,000. Invesco Ltd. increased its holdings in Marqeta by 7.6% during the 1st quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock worth $23,885,000 after purchasing an additional 411,571 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Marqeta during the 4th quarter worth approximately $19,717,000. Two Sigma Advisers LP increased its holdings in Marqeta by 30.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,071,400 shares of the company's stock worth $19,221,000 after purchasing an additional 1,188,100 shares during the last quarter. Finally, Moore Capital Management LP purchased a new stake in Marqeta during the 4th quarter worth approximately $13,761,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Up 0.7%

MQ traded up $0.04 during trading on Friday, reaching $6.15. 3,260,575 shares of the company were exchanged, compared to its average volume of 3,880,017. The stock has a market cap of $2.76 billion, a P/E ratio of -47.31 and a beta of 1.55. The firm has a 50 day moving average of $6.01 and a 200 day moving average of $5.04. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.04.

Analysts Set New Price Targets

Several research firms have issued reports on MQ. Barclays lifted 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. Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target for the company. The Goldman Sachs Group boosted their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, August 7th. UBS Group boosted their price target on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.11.

Insiders Place Their Bets

In other Marqeta news, CRO Todd Pollak sold 116,493 shares of the business'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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the business's stock in a transaction on 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 transaction, the director owned 15,399,000 shares of the company's stock, valued at $102,095,370. This trade represents a 12.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,398,120 shares of company stock valued at $15,836,577 in the last quarter. 12.61% of the stock is currently owned by insiders.

Marqeta 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.