Insider Selling: Marqeta (NASDAQ:MQ) CRO Sells 116,493 Shares of Stock

Key Points

• Todd Pollak, CRO of Marqeta, Inc., sold 116,493 shares at an average price of $6.19, resulting in a total transaction value of $721,091.67 and a 24.22% decrease in his holdings.
• Several analysts raised their price targets for Marqeta, with Goldman Sachs adjusting their target from $5.50 to $7.50, while maintaining a "neutral" rating on the stock.
• Institutional investors hold 78.64% of Marqeta's stock, with notable increases in holdings from Wells Fargo (45.4%) and Bank of Montreal (125.6%) during the 4th quarter.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) CRO Todd Pollak sold 116,493 shares of the business'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 completion of the sale, the executive directly owned 364,525 shares of the company's stock, valued at approximately $2,256,409.75. The trade was a 24.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Marqeta Price Performance

MQ traded down $0.0450 on Thursday, hitting $5.9350. The company had a trading volume of 1,311,169 shares, compared to its average volume of 6,576,328. The company's fifty day moving average price is $5.87 and its 200 day moving average price is $4.83. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -45.65 and a beta of 1.54.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Marqeta in the fourth quarter valued at $288,000. Allspring Global Investments Holdings LLC grew its position in Marqeta by 44.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after acquiring an additional 20,909 shares during the period. BNP Paribas Financial Markets bought a new stake in Marqeta in the fourth quarter valued at $1,520,000. Northern Trust Corp grew its position in Marqeta by 3.9% in the fourth quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock valued at $16,305,000 after acquiring an additional 161,968 shares during the period. Finally, Mission Creek Capital Partners Inc. bought a new stake in Marqeta in the fourth quarter valued at $778,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on MQ. The Goldman Sachs Group boosted their target price on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. UBS Group upped their price target on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.