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

Marqeta, Inc. (NASDAQ:MQ) Director Jason Gardner sold 31,627 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total transaction of $197,985.02. Following the sale, the director directly owned 15,367,373 shares in the company, valued at $96,199,754.98. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Marqeta Price Performance

MQ stock opened at $6.18 on Thursday. The company has a 50 day moving average price of $6.00 and a 200 day moving average price of $5.00. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.04. The stock has a market capitalization of $2.77 billion, a PE ratio of -47.54 and a beta of 1.55.

Hedge Funds Weigh In On Marqeta

Institutional investors have recently modified their holdings of the stock. Stifel Financial Corp acquired a new stake in shares of Marqeta in the 4th quarter valued at approximately $41,000. Alpine Global Management LLC bought a new stake in Marqeta in the first quarter valued at approximately $42,000. Blueshift Asset Management LLC raised its holdings in Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock worth $51,000 after purchasing an additional 2,333 shares during the period. R Squared Ltd raised its holdings in Marqeta by 624.1% in the first quarter. R Squared Ltd now owns 13,106 shares of the company’s stock worth $54,000 after purchasing an additional 11,296 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock worth $57,000 after purchasing an additional 3,737 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MQ has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a research report on Thursday, July 17th. They set a “hold” rating and a $6.00 target price for the company. Barclays boosted their price objective on Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Keefe, Bruyette & Woods raised their target price on shares of Marqeta from $4.50 to $6.50 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Marqeta from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, August 7th. Three investment 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 stock presently has an average rating of “Hold” and a consensus 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.