Wellington Management Group LLP Decreases Stake in Marqeta, Inc. $MQ

Key Points

• Wellington Management Group LLP reduced its stake in Marqeta, Inc. by 2.7%, owning approximately 5,059,727 shares, valued at $20.8 million following the sale.
• Insider trading was noted as Director Jason M. Gardner sold 2,250,000 shares on August 7, resulting in a 12.75% decrease in his ownership.
• Marqeta's stock price opened at $6.17, with a 12-month high of $7.04 and a consensus rating of "Hold" from analysts, with an average price target of $6.11.

Wellington Management Group LLP cut its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,059,727 shares of the company's stock after selling 142,732 shares during the quarter. Wellington Management Group LLP owned 1.00% of Marqeta worth $20,846,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp purchased a new stake in shares of Marqeta in the fourth quarter valued at approximately $41,000. Blueshift Asset Management LLC boosted its stake in shares of 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 boosted its stake in shares of 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. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Marqeta in the first quarter valued at approximately $62,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of Marqeta in the fourth quarter valued at approximately $65,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 2,250,000 shares of the business'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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the company'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 completion of the sale, the executive directly owned 364,525 shares of the company's stock, valued at $2,256,409.75. The trade was a 24.22% decrease in their position. The disclosure for this sale can be found here. 12.61% of the stock is currently owned by insiders.

Marqeta Trading Down 0.2%

MQ stock opened at $6.17 on Tuesday. The stock has a 50-day moving average price of $5.90 and a two-hundred day moving average price of $4.89. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.04. The company has a market cap of $2.77 billion, a PE ratio of -47.46 and a beta of 1.54.

Analyst Upgrades and Downgrades

MQ has been the subject of several research reports. 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 report on Wednesday, July 9th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.

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