Russell Investments Group Ltd. Has $590,000 Position in Marqeta, Inc. $MQ

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Marqeta, Inc. by 63,866.1%, acquiring a total of 143,284 shares valued at approximately $590,000.
• Several large investors modified their positions in Marqeta, with hedge funds now owning 78.64% of the company's stock, highlighting strong institutional interest.
• Analysts have mixed ratings on Marqeta, with three giving a Buy rating and the consensus rating being a "Hold" with a price target of around $6.11.

Russell Investments Group Ltd. boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 63,866.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,284 shares of the company's stock after buying an additional 143,060 shares during the quarter. Russell Investments Group Ltd.'s holdings in Marqeta were worth $590,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Marqeta in the 4th quarter valued at approximately $288,000. Allspring Global Investments Holdings LLC raised its holdings in Marqeta by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after acquiring an additional 20,909 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Marqeta in the 4th quarter valued at $1,520,000. Northern Trust Corp raised its holdings in Marqeta by 3.9% in the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock valued at $16,305,000 after acquiring an additional 161,968 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Marqeta by 7.6% in 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. Hedge funds and other institutional investors own 78.64% of the company's stock.

Insider Transactions at Marqeta

In other Marqeta news, CRO Todd Pollak sold 116,493 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $6.19, for a total value of $721,091.67. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason M. Gardner sold 31,627 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total transaction of $197,985.02. Following the completion of the transaction, the director owned 15,367,373 shares in the company, valued at approximately $96,199,754.98. This trade represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. 12.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on MQ shares. UBS Group increased 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. Barclays increased their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. The Goldman Sachs Group increased 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. 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 research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Marqeta has an average rating of "Hold" and a consensus target price of $6.11.

Marqeta Trading Down 2.2%

NASDAQ MQ traded down $0.14 on Thursday, reaching $6.05. The company's stock had a trading volume of 554,108 shares, compared to its average volume of 6,396,506. The firm has a market cap of $2.71 billion, a PE ratio of -46.50 and a beta of 1.55. The business has a 50-day moving average price of $6.00 and a 200 day moving average price of $5.00. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week 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.