American Century Companies Inc. Buys 116,999 Shares of Marqeta, Inc. $MQ

American Century Companies Inc. increased its stake in Marqeta, Inc. (NASDAQ:MQ) by 17.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 780,164 shares of the company’s stock after buying an additional 116,999 shares during the period. American Century Companies Inc. owned 0.15% of Marqeta worth $3,214,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. RPD Fund Management LLC bought a new position in Marqeta in the 4th quarter worth about $37,289,000. Invesco Ltd. boosted its holdings in shares of Marqeta by 7.6% in the first quarter. Invesco Ltd. now owns 5,797,217 shares of the company’s stock valued at $23,885,000 after purchasing an additional 411,571 shares during the period. Wellington Management Group LLP bought a new position in Marqeta in the fourth quarter worth approximately $19,717,000. Two Sigma Advisers LP grew its stake in Marqeta by 30.6% in the fourth quarter. Two Sigma Advisers LP now owns 5,071,400 shares of the company’s stock worth $19,221,000 after purchasing an additional 1,188,100 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Marqeta by 3.9% during the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company’s stock worth $16,305,000 after purchasing an additional 161,968 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CRO Todd Pollak sold 116,493 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $6.19, for a total transaction of $721,091.67. Following the completion of the transaction, the executive owned 364,525 shares in the company, valued at $2,256,409.75. The trade was a 24.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jason M. Gardner sold 2,250,000 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 15,399,000 shares of the company’s stock, valued at $102,095,370. The trade was a 12.75% decrease in their position. The disclosure for this sale can be found here. 12.61% of the stock is owned by insiders.

Marqeta Price Performance

MQ opened at $6.36 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -48.92 and a beta of 1.54. The business’s 50-day moving average is $5.97 and its two-hundred day moving average is $4.96. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Marqeta from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, August 7th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the company a “neutral” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta in a report on Thursday, July 17th. They set a “hold” rating and a $6.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Marqeta from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $4.50 to $6.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.11.

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.