VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in Marqeta, Inc. $MQ

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,544 shares of the company’s stock, valued at approximately $1,123,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MQ. Arnhold LLC lifted its holdings in Marqeta by 11.6% during the 2nd quarter. Arnhold LLC now owns 2,401,932 shares of the company’s stock worth $14,003,000 after buying an additional 248,918 shares during the last quarter. Bayforest Capital Ltd bought a new position in Marqeta during the 2nd quarter worth approximately $274,000. TD Asset Management Inc lifted its holdings in Marqeta by 62.2% during the 2nd quarter. TD Asset Management Inc now owns 622,848 shares of the company’s stock worth $3,631,000 after buying an additional 238,748 shares during the last quarter. US Bancorp DE lifted its holdings in Marqeta by 142.3% during the 2nd quarter. US Bancorp DE now owns 197,751 shares of the company’s stock worth $1,153,000 after buying an additional 116,145 shares during the last quarter. Finally, Abel Hall LLC bought a new position in Marqeta during the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Buying and Selling at Marqeta

In other news, Director Jason M. Gardner sold 31,627 shares of Marqeta stock in a transaction on 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 directly owned 15,367,373 shares in the company, valued at approximately $96,199,754.98. This trade represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Todd Pollak sold 116,493 shares of Marqeta 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 transaction, the executive owned 364,525 shares in the company, valued at approximately $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,398,120 shares of company stock worth $15,836,577 in the last ninety days. 12.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MQ has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Citigroup initiated coverage on Marqeta in a report on Wednesday. They set a “neutral” rating and a $5.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marqeta in a report on Wednesday, October 8th. UBS Group increased their target price on Marqeta from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Marqeta in a report on Thursday, July 17th. They issued a “hold” rating and a $6.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.77.

Marqeta Price Performance

Shares of Marqeta stock opened at $4.75 on Friday. The business’s fifty day moving average price is $5.56 and its two-hundred day moving average price is $5.31. The company has a market capitalization of $2.13 billion, a P/E ratio of -36.54 and a beta of 1.51. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04.

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.