Marqeta, Inc. $MQ Shares Sold by Deutsche Bank AG

Deutsche Bank AG lowered its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,342 shares of the company’s stock after selling 40,109 shares during the quarter. Deutsche Bank AG owned approximately 0.11% of Marqeta worth $2,206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MQ. Bank of Montreal Can boosted its position in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 49,243 shares in the last quarter. Stifel Financial Corp purchased a new position in Marqeta during the fourth quarter worth approximately $41,000. Blueshift Asset Management LLC boosted its position 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 purchasing an additional 2,333 shares in the last quarter. R Squared Ltd boosted its position 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 purchasing an additional 11,296 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Marqeta during the first quarter worth approximately $62,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Buying and Selling

In related news, CRO Todd Pollak sold 116,493 shares of Marqeta stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $6.19, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of Marqeta stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $6.63, for a total value of $14,917,500.00. Following the transaction, the director owned 15,399,000 shares in the company, valued at approximately $102,095,370. The trade was a 12.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.61% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft began coverage on Marqeta in a research report on Thursday, July 17th. They issued a “hold” rating and a $6.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on Marqeta from $4.50 to $6.50 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. The Goldman Sachs Group raised their target price on Marqeta from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, UBS Group raised their target price on Marqeta from $5.00 to $5.75 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Marqeta has a consensus rating of “Hold” and a consensus target price of $6.11.

Marqeta Stock Performance

Shares of Marqeta stock opened at $5.98 on Thursday. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.04. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -46.00 and a beta of 1.54. The business’s 50 day moving average price is $5.87 and its 200 day moving average price is $4.83.

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.