Marqeta, Inc. $MQ Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD significantly increased its stake in Marqeta, Inc. by 126.2%, now owning approximately 41 million shares valued at $169 million.
• Analysts have raised their price targets for Marqeta, with Goldman Sachs increasing it from $5.50 to $7.50 and JPMorgan Chase from $6.00 to $8.00, indicating positive sentiment around the stock's future performance.
• Company insiders sold substantial shares recently, with Director Jason M. Gardner offloading 2.25 million shares at an average price of $6.63, reducing their ownership stake by 12.75%.

Price T Rowe Associates Inc. MD increased its position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 126.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,097,173 shares of the company's stock after buying an additional 22,928,070 shares during the period. Price T Rowe Associates Inc. MD owned about 8.15% of Marqeta worth $169,322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Marqeta by 125.6% during the fourth 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 during the period. Stifel Financial Corp bought a new stake in Marqeta during the fourth quarter valued at about $41,000. Blueshift Asset Management LLC boosted its position in 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 in the last quarter. R Squared Ltd boosted its position in Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock valued at $54,000 after purchasing an additional 11,296 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Marqeta during the first quarter valued at about $62,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Price Performance

NASDAQ MQ traded up $0.04 during trading on Wednesday, hitting $6.28. The company's stock had a trading volume of 2,625,273 shares, compared to its average volume of 5,225,300. The company has a market cap of $2.81 billion, a PE ratio of -48.31 and a beta of 1.54. The business's 50 day simple moving average is $5.93 and its 200-day simple moving average is $4.91. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.04.

Insider Activity

In related news, 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 transaction of $14,917,500.00. Following the completion of the sale, the director owned 15,399,000 shares of the company's stock, valued at $102,095,370. The trade was a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the executive directly owned 364,525 shares of the company's stock, valued at $2,256,409.75. This trade represents a 24.22% decrease in their position. The disclosure for this sale can be found here. 12.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MQ. Keefe, Bruyette & Woods raised their price objective on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Barclays raised their price objective on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. UBS Group raised their price objective on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group raised their price objective on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.11.

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.