Walleye Capital LLC Increases Stock Position in Marqeta, Inc. $MQ

Key Points

• Walleye Capital LLC increased its stake in Marqeta, Inc. by 467.3% in the first quarter, now holding 305,637 shares worth approximately $1.26 million.
• Multiple institutional investors, including Raymond James and Invesco, have recently adjusted their positions in Marqeta, with institutional ownership totaling 78.64% of the company's stock.
• Analysts have raised their price targets for Marqeta, with JPMorgan Chase increasing its target from $6.00 to $8.00, indicating a generally positive outlook on the company's performance.

Walleye Capital LLC boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 467.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,637 shares of the company's stock after purchasing an additional 251,757 shares during the period. Walleye Capital LLC owned about 0.06% of Marqeta worth $1,259,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC lifted its holdings in Marqeta by 23.2% during the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after buying an additional 2,333 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Marqeta by 0.6% during the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock worth $1,443,000 after acquiring an additional 2,343 shares in the last quarter. Arizona State Retirement System boosted its position in Marqeta by 3.2% during the first quarter. Arizona State Retirement System now owns 120,131 shares of the company's stock valued at $495,000 after purchasing an additional 3,734 shares during the last quarter. apricus wealth LLC grew its position in shares of Marqeta by 33.2% in the 1st quarter. apricus wealth LLC now owns 18,000 shares of the company's stock valued at $74,000 after acquiring an additional 4,490 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 purchasing an additional 5,154 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Marqeta

In related news, CRO Todd Pollak sold 116,493 shares of the firm's stock in a transaction that occurred on 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 owned 364,525 shares of the company's stock, valued at approximately $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the completion of the sale, the director owned 15,399,000 shares of the company's stock, valued at approximately $102,095,370. The trade was a 12.75% decrease in their position. 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 90 days. Company insiders own 12.61% of the company's stock.

Marqeta Trading Down 0.6%

Shares of MQ stock traded down $0.04 during midday trading on Thursday, reaching $6.15. 2,248,248 shares of the stock were exchanged, compared to its average volume of 6,406,945. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04. The company's 50 day moving average is $6.00 and its two-hundred day moving average is $5.00. The firm has a market cap of $2.75 billion, a PE ratio of -47.27 and a beta of 1.55.

Analyst Ratings Changes

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

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.