Quantbot Technologies LP Increases Stock Position in Marqeta, Inc. $MQ

Key Points

• Quantbot Technologies LP increased its holdings in Marqeta, Inc. by 99.7% during Q1, owning 123,815 shares valued at $510,000.
• Analysts issued mixed ratings on Marqeta, with a target price range between $4.00 and $8.00, showing varying confidence in the stock's performance.
• Insider trading activity included major share sales by Director Jason M. Gardner and CRO Todd Pollak, indicating a 12.75% and 24.22% decrease in their respective stock ownerships.

Quantbot Technologies LP grew its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 99.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,815 shares of the company's stock after buying an additional 61,818 shares during the quarter. Quantbot Technologies LP's holdings in Marqeta were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MQ. Wells Fargo & Company MN raised its position in shares of Marqeta by 45.4% during the 4th quarter. Wells Fargo & Company MN now owns 236,696 shares of the company's stock valued at $897,000 after buying an additional 73,851 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Marqeta during the 4th quarter valued at about $288,000. Barclays PLC raised its position in shares of Marqeta by 29.3% during the 4th quarter. Barclays PLC now owns 1,113,475 shares of the company's stock valued at $4,220,000 after buying an additional 252,061 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Marqeta by 3.5% during the 4th quarter. MetLife Investment Management LLC now owns 279,462 shares of the company's stock valued at $1,059,000 after buying an additional 9,368 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Marqeta by 36.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock valued at $73,000 after buying an additional 5,154 shares in the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MQ shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Marqeta in a research report on Thursday, July 17th. They set a "hold" rating and a $6.00 target price on the stock. UBS Group increased their price objective 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. Barclays increased their price objective on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. increased their price objective 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.11.

Insider Buying and Selling

In other news, Director Jason M. Gardner sold 2,250,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 15,399,000 shares of the company's stock, valued at approximately $102,095,370. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Todd Pollak sold 116,493 shares of the firm's 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 transaction, the executive directly owned 364,525 shares in the company, valued at approximately $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.61% of the company's stock.

Marqeta Price Performance

Marqeta stock opened at $6.17 on Tuesday. The firm has a market capitalization of $2.77 billion, a P/E ratio of -47.46 and a beta of 1.54. The company's 50-day moving average is $5.90 and its 200 day moving average is $4.89. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04.

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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