Marqeta, Inc. (NASDAQ:MQ) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts have given Marqeta, Inc. (NASDAQ:MQ) an average rating of "Hold", with ten ratings for hold and three for buy, leading to an average target price of $6.11.
• Recent trading activity shows significant insider sales, including 2,250,000 shares sold by Director Jason M. Gardner, reflecting a 12.75% decrease in his holdings.
• Institutional investors own 78.64% of Marqeta's stock, with several modifying their holdings, including State of Wyoming acquiring a new position worth about $442,000.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) has earned a consensus recommendation of "Hold" from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.1136.

A number of research firms have recently commented on MQ. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a report on Thursday, July 17th. They set a "hold" rating and a $6.00 price objective for the company. The Goldman Sachs Group upped 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. Keefe, Bruyette & Woods upped 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. Finally, UBS Group upped 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.

Marqeta Stock Down 2.3%

Shares of MQ stock traded down $0.14 on Monday, reaching $5.83. 2,552,644 shares of the stock were exchanged, compared to its average volume of 3,566,071. The stock has a market cap of $2.61 billion, a P/E ratio of -44.85 and a beta of 1.55. The firm has a 50 day moving average of $6.02 and a two-hundred day moving average of $5.11. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04.

Insider Buying and Selling at Marqeta

In related news, Director Jason M. Gardner sold 31,627 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $6.26, for a total value of $197,985.02. Following the completion of the sale, the director directly owned 15,367,373 shares in the company, valued at approximately $96,199,754.98. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Todd Pollak sold 116,493 shares of the stock in a transaction 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 owned 364,525 shares of the company's stock, valued at approximately $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 quarter, insiders sold 2,398,120 shares of company stock valued at $15,836,577. 12.61% of the stock is owned by insiders.

Institutional Trading of Marqeta

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of Marqeta during the fourth quarter valued at about $288,000. Allspring Global Investments Holdings LLC grew its stake 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 valued at $287,000 after acquiring an additional 20,909 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Marqeta during the fourth quarter valued at about $1,520,000. Northern Trust Corp grew its stake in shares of Marqeta by 3.9% during 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 in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Marqeta by 7.6% during the first quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock valued at $23,885,000 after acquiring an additional 411,571 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.