Nuveen LLC Invests $5.42 Million in Marqeta, Inc. $MQ

Key Points

• Nuveen LLC has invested approximately $5.42 million in Marqeta, Inc., acquiring over 1.3 million shares in the first quarter, indicating growing institutional interest in the company.
• Marqeta's stock price has shown volatility, with a yearly low of $3.37 and a high of $7.04, while its current market capitalization stands at $2.77 billion.
• According to analysts, Marqeta has a consensus rating of "Hold" with an average price target of $6.11, reflecting cautious optimism among investment firms.

Nuveen LLC bought a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,315,461 shares of the company's stock, valued at approximately $5,420,000. Nuveen LLC owned 0.26% of Marqeta as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MQ. Stifel Financial Corp acquired a new position in Marqeta in the fourth quarter valued at $41,000. Blueshift Asset Management LLC lifted its holdings in Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after buying an additional 2,333 shares during the period. R Squared Ltd lifted its holdings in Marqeta by 624.1% in the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock valued at $54,000 after buying an additional 11,296 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Marqeta in the first quarter valued at $62,000. Finally, Oxford Asset Management LLP acquired a new position in Marqeta in the fourth quarter valued at $65,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Price Performance

NASDAQ MQ opened at $6.17 on Tuesday. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04. The stock has a market capitalization of $2.77 billion, a PE ratio of -47.46 and a beta of 1.54. The company's 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $4.89.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on MQ. The Goldman Sachs Group boosted their target price on shares of Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods upped their price objective 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. Barclays upped their price objective on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. UBS Group upped their price objective on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Marqeta currently has a consensus rating of "Hold" and an average price target of $6.11.

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.

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