Marqeta (NASDAQ:MQ) Given New $6.00 Price Target at Keefe, Bruyette & Woods

Marqeta (NASDAQ:MQ) had its target price trimmed by Keefe, Bruyette & Woods from $6.50 to $6.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Marqeta from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. UBS Group raised their price target on shares of 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 started coverage on shares of Marqeta in a report on Thursday, July 17th. They issued a “hold” rating and a $6.00 price target for the company. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Marqeta presently has a consensus rating of “Hold” and an average price target of $6.07.

Marqeta Stock Down 4.2%

MQ opened at $5.06 on Wednesday. Marqeta has a twelve month low of $3.37 and a twelve month high of $7.04. The company has a fifty day moving average of $5.93 and a 200-day moving average of $5.25. The stock has a market cap of $2.27 billion, a PE ratio of -38.92 and a beta of 1.51.

Insider Transactions at Marqeta

In related news, 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 transaction, the director directly owned 15,399,000 shares of the company’s stock, valued at $102,095,370. This trade represents a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $721,091.67. Following the transaction, the executive directly owned 364,525 shares in the company, valued at $2,256,409.75. The trade was a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,398,120 shares of company stock worth $15,836,577 over the last three months. 12.61% of the stock is owned by insiders.

Institutional Trading of Marqeta

Large investors have recently added to or reduced their stakes in the stock. Alpine Global Management LLC purchased a new position in shares of Marqeta in the first quarter worth about $42,000. Blueshift Asset Management LLC increased its stake in shares of Marqeta by 23.2% in 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 increased its stake in shares of Marqeta by 624.1% in 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. Nisa Investment Advisors LLC increased its stake in shares of Marqeta by 61.8% in 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 in the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Marqeta in the first quarter worth about $57,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.