TD Asset Management Inc Boosts Stake in Marqeta, Inc. $MQ

Key Points

• TD Asset Management Inc increased its stake in Marqeta, Inc. by 62.2% during the second quarter, owning a total of 622,848 shares worth approximately $3.63 million.
• Analysts have mixed ratings on Marqeta; recent reports show a consensus rating of "Hold" with a target price averaging $5.84.
• Insider trading activity includes a significant sale by Director Jason M. Gardner, who sold 2.25 million shares for about $14.92 million, representing a 12.75% decrease in his position.

TD Asset Management Inc boosted its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 62.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 622,848 shares of the company's stock after buying an additional 238,748 shares during the period. TD Asset Management Inc owned 0.13% of Marqeta worth $3,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Marqeta by 44.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock worth $287,000 after purchasing an additional 20,909 shares in the last quarter. Strs Ohio acquired a new position in shares of Marqeta during the first quarter worth $698,000. Invesco Ltd. increased its position in shares of Marqeta by 7.6% during the first quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock worth $23,885,000 after purchasing an additional 411,571 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Marqeta during the first quarter worth $252,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Marqeta by 313.3% during the second quarter. Public Employees Retirement System of Ohio now owns 168,430 shares of the company's stock worth $982,000 after purchasing an additional 127,682 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MQ shares. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research report on Thursday, July 17th. They set a "hold" rating and a $6.00 price target on the stock. UBS Group upped their price target on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Marqeta in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the company a "sell" rating in a research report on Monday, October 13th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Marqeta has a consensus rating of "Hold" and a consensus target price of $5.84.

Marqeta Price Performance

NASDAQ MQ opened at $4.59 on Tuesday. The stock's fifty day moving average price is $5.67 and its 200 day moving average price is $5.31. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -35.31 and a beta of 1.51.

Insider Buying and Selling at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 2,250,000 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Todd Pollak sold 116,493 shares of the 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 in the company, valued at $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. Over the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. 12.61% of the stock is owned by insiders.

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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