Public Employees Retirement System of Ohio Increases Stake in Marqeta, Inc. $MQ

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Marqeta, Inc. by 313.3% in Q2, owning 168,430 shares valued at approximately $982,000.
• Insider sales included Director Jason M. Gardner selling 2.25 million shares, reflecting a 12.75% ownership decrease, while total insider sales in the last 90 days amounted to about $15.84 million.
• Equity analysts have varied ratings on Marqeta, with three Buy ratings, ten Hold ratings, and one Sell rating, while the average target price stands at $6.07.

Public Employees Retirement System of Ohio increased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 313.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,430 shares of the company's stock after purchasing an additional 127,682 shares during the period. Public Employees Retirement System of Ohio's holdings in Marqeta were worth $982,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Marqeta by 126.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,097,173 shares of the company's stock worth $169,322,000 after purchasing an additional 22,928,070 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Marqeta by 3.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 19,860,183 shares of the company's stock valued at $81,824,000 after acquiring an additional 631,132 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Marqeta by 7.6% during the 1st quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock valued at $23,885,000 after acquiring an additional 411,571 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marqeta by 11.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,478,666 shares of the company's stock valued at $14,332,000 after acquiring an additional 351,794 shares during the last quarter. Finally, Arnhold LLC boosted its holdings in shares of Marqeta by 17.4% in the first quarter. Arnhold LLC now owns 2,153,014 shares of the company's stock worth $8,870,000 after buying an additional 319,102 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Insider Activity

In other news, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the transaction, the director owned 15,399,000 shares in the company, valued at $102,095,370. This represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the stock in a transaction that occurred 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. This trade represents a 24.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,398,120 shares of company stock worth $15,836,577. Corporate insiders own 12.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MQ shares. UBS Group lifted their price target on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a research report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Marqeta in a research note on Saturday, September 27th. Finally, 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 research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Marqeta presently has an average rating of "Hold" and a consensus target price of $6.07.

Marqeta Stock Up 0.2%

MQ opened at $5.11 on Friday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $7.04. The company has a market cap of $2.29 billion, a P/E ratio of -39.31 and a beta of 1.51. The firm's 50-day moving average price is $5.90 and its 200-day moving average price is $5.26.

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.

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