Jason M. Gardner Sells 31,627 Shares of Marqeta (NASDAQ:MQ) Stock

Key Points

• Jason Gardner, Director of Marqeta, sold 31,627 shares of the company's stock for a total of $197,985.02, reducing his overall holdings by 0.21% to approximately 15.37 million shares.
• Marqeta's stock is currently priced at $6.18, reflecting a 0.2% increase from the previous day with a market capitalization of $2.77 billion.
• Hedge funds and institutional investors own 78.64% of Marqeta's stock, with several firms recently increasing their stakes, showcasing growing interest in the company's performance.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) Director Jason M. Gardner sold 31,627 shares of Marqeta stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $6.26, for a total transaction of $197,985.02. Following the transaction, the director owned 15,367,373 shares of the company's stock, valued at approximately $96,199,754.98. The trade was a 0.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Marqeta Trading Up 0.7%

Shares of NASDAQ MQ traded up $0.04 during midday trading on Friday, reaching $6.15. 3,260,575 shares of the stock were exchanged, compared to its average volume of 3,880,017. The company has a market capitalization of $2.76 billion, a P/E ratio of -47.31 and a beta of 1.55. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $7.04. The stock has a 50 day moving average price of $6.01 and a 200-day moving average price of $5.04.

Institutional Trading of Marqeta

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Marqeta during the 4th quarter worth approximately $288,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Marqeta by 44.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company's stock valued at $287,000 after buying an additional 20,909 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Marqeta in the fourth quarter valued at $1,520,000. Northern Trust Corp grew its stake in shares of 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 buying an additional 161,968 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Marqeta by 7.6% in the first quarter. Invesco Ltd. now owns 5,797,217 shares of the company's stock valued at $23,885,000 after buying an additional 411,571 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MQ has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Marqeta from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price target on the stock. The Goldman Sachs Group boosted their target price on shares of Marqeta from $5.50 to $7.50 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Barclays upped their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.