Marqeta, Inc. $MQ Shares Bought by TD Asset Management Inc

TD Asset Management Inc boosted its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 62.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 622,848 shares of the company’s stock after purchasing an additional 238,748 shares during the period. TD Asset Management Inc’s holdings in Marqeta were worth $3,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Marqeta by 44.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,579 shares of the company’s stock worth $287,000 after purchasing an additional 20,909 shares during the period. Strs Ohio acquired a new stake in Marqeta during the 1st quarter worth about $698,000. Invesco Ltd. boosted its stake in shares of Marqeta by 7.6% during the 1st quarter. Invesco Ltd. now owns 5,797,217 shares of the company’s stock worth $23,885,000 after acquiring an additional 411,571 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Marqeta during the 1st quarter worth about $252,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Marqeta by 313.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 168,430 shares of the company’s stock worth $982,000 after acquiring an additional 127,682 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MQ shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Marqeta in a research note on Thursday, July 17th. They set a “hold” rating and a $6.00 target price on the stock. The Goldman Sachs Group set a $5.00 target price on shares of Marqeta and gave the stock a “sell” rating in a research note on Monday, October 13th. Keefe, Bruyette & Woods lowered their target price on shares of Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. UBS Group increased their target price on shares of Marqeta from $5.00 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their target price 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. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Marqeta presently has an average rating of “Hold” and an average price target of $5.84.

Marqeta Trading Up 0.9%

Shares of Marqeta stock opened at $4.59 on Tuesday. The firm has a market capitalization of $2.06 billion, a PE ratio of -35.31 and a beta of 1.51. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.04. The firm’s 50-day moving average price is $5.67 and its 200 day moving average price is $5.31.

Insider Transactions at Marqeta

In related news, CRO Todd Pollak sold 116,493 shares of the firm’s stock in a transaction dated 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 directly owned 364,525 shares of the company’s stock, valued at approximately $2,256,409.75. This trade represents a 24.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jason M. Gardner sold 2,250,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $6.63, for a total transaction of $14,917,500.00. Following the completion of the transaction, the director directly owned 15,399,000 shares in the company, valued at $102,095,370. This represents a 12.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,398,120 shares of company stock worth $15,836,577 over the last ninety days. 12.61% of the stock is currently owned by corporate insiders.

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.