Strs Ohio Invests $698,000 in Marqeta, Inc. $MQ

Key Points

• Strs Ohio has made a new investment in Marqeta, Inc. by purchasing 169,300 shares valued at approximately $698,000 in the first quarter of the year.
• Several institutional investors, including Ameriprise Financial and Millennium Management, have also increased their stakes in Marqeta, with hedge funds currently owning 78.64% of the company's stock.
• Marqeta's stock recently saw a price opening of $5.69 and has a market capitalization of $2.55 billion with a price-to-earnings ratio of -43.77.

Strs Ohio bought a new position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 169,300 shares of the company's stock, valued at approximately $698,000.

Several other large investors have also made changes to their positions in MQ. Price T Rowe Associates Inc. MD raised its stake in shares of Marqeta by 126.2% during 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 buying an additional 22,928,070 shares during the period. Wellington Management Group LLP acquired a new position in shares of Marqeta during the 4th quarter worth approximately $19,717,000. Millennium Management LLC raised its stake in shares of Marqeta by 110.6% during the 4th quarter. Millennium Management LLC now owns 3,620,476 shares of the company's stock worth $13,722,000 after buying an additional 1,901,695 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Marqeta during the 1st quarter worth approximately $6,154,000. Finally, Nuveen LLC acquired a new position in shares of Marqeta during the 1st quarter worth approximately $5,420,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MQ shares. UBS Group upped their target price on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods increased their price objective on Marqeta from $4.50 to $6.50 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. The Goldman Sachs Group increased their price objective on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Marqeta in a research note on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Marqeta currently has a consensus rating of "Hold" and an average price target of $6.11.

Marqeta Price Performance

Shares of MQ traded down $0.02 during mid-day trading on Tuesday, reaching $5.72. The stock had a trading volume of 83,100 shares, compared to its average volume of 6,213,217. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $7.04. The business's fifty day moving average is $6.00 and its 200 day moving average is $5.20. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -44.20 and a beta of 1.55.

Insider Transactions at Marqeta

In other news, Director Jason M. Gardner sold 31,627 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $6.26, for a total transaction of $197,985.02. Following the completion of the transaction, the director directly owned 15,367,373 shares in the company, valued at approximately $96,199,754.98. This represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $721,091.67. Following the transaction, the executive owned 364,525 shares of the company's stock, valued at approximately $2,256,409.75. This represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,398,120 shares of company stock valued at $15,836,577 in the last three months. 12.61% of the stock is currently owned by insiders.

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.