Palogic Value Management L.P. Sells 110,000 Shares of Marqeta, Inc. $MQ

Palogic Value Management L.P. decreased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 28.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,000 shares of the company’s stock after selling 110,000 shares during the quarter. Palogic Value Management L.P.’s holdings in Marqeta were worth $1,574,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in 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 during the period. Alpine Global Management LLC acquired a new position in Marqeta during the first quarter worth about $42,000. Abel Hall LLC acquired a new position in Marqeta during the second quarter worth about $61,000. Blueshift Asset Management LLC raised its stake in Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock worth $51,000 after acquiring an additional 2,333 shares in the last quarter. Finally, R Squared Ltd raised its stake in Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company’s stock worth $54,000 after acquiring an additional 11,296 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Insider Activity at Marqeta

In related news, CRO Todd Pollak sold 116,493 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $6.19, for a total value of $721,091.67. Following the sale, the executive directly owned 364,525 shares in the company, valued at $2,256,409.75. This represents a 24.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason M. Gardner sold 2,250,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $6.63, for a total value of $14,917,500.00. Following the completion of the sale, the director owned 15,399,000 shares in the company, valued at $102,095,370. The trade was a 12.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,398,120 shares of company stock valued at $15,836,577 in the last ninety days. 12.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on MQ shares. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research note on Thursday, July 17th. They set a “hold” rating and a $6.00 target price for the company. The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the stock a “sell” rating in a research note on Monday, October 13th. Citigroup raised Marqeta to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Marqeta in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.77.

Marqeta Price Performance

Marqeta stock opened at $4.53 on Friday. The business has a 50 day moving average of $5.39 and a 200-day moving average of $5.36. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04. The company has a market capitalization of $2.03 billion, a P/E ratio of -34.85 and a beta of 1.51.

Marqeta Company 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.