Vanguard Group Inc. Lowers Stock Holdings in Marqeta, Inc. $MQ

Key Points

• Vanguard Group Inc. decreased its stake in Marqeta, Inc. by 2.5% during the first quarter, now owning 8.57% of the company valued at approximately $178 million.
• Marqeta's stock is currently trading at $6.07, with a market capitalization of $2.72 billion and a twelve-month price range between $3.37 and $7.04.
• Recent analyst reports show mixed ratings for Marqeta, with three analysts giving a Buy rating and ten assigning a Hold rating, leading to a consensus rating of "Hold" and an average price target of $6.11.

Vanguard Group Inc. reduced its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,225,356 shares of the company's stock after selling 1,125,397 shares during the period. Vanguard Group Inc. owned approximately 8.57% of Marqeta worth $178,088,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MQ. Bank of Montreal Can raised its stake in Marqeta by 125.6% in the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after buying an additional 49,243 shares in the last quarter. Stifel Financial Corp acquired a new stake in Marqeta in the fourth quarter valued at $41,000. Blueshift Asset Management LLC raised its stake in Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock valued at $51,000 after buying an additional 2,333 shares in the last quarter. R Squared Ltd raised its stake in Marqeta by 624.1% in the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock valued at $54,000 after buying an additional 11,296 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Marqeta in the first quarter valued at $62,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

Shares of MQ traded down $0.01 during midday trading on Monday, reaching $6.17. 2,772,223 shares of the stock were exchanged, compared to its average volume of 5,457,832. The business's 50-day moving average price is $5.90 and its 200 day moving average price is $4.89. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.04. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -47.46 and a beta of 1.54.

Insider Transactions at Marqeta

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group raised their price target on Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Marqeta from $6.00 to $8.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods raised their price target 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 raised their price target on Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Barclays raised their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.11.

About Marqeta

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.