Marqeta, Inc. (NASDAQ:MQ) Given Consensus Rating of “Hold” by Brokerages

Shares of Marqeta, Inc. (NASDAQ:MQ) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.0682.

A number of equities analysts recently commented on MQ shares. JPMorgan Chase & Co. lifted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Marqeta from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. UBS Group lifted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research note on Thursday, July 17th. They issued a “hold” rating and a $6.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research note on Wednesday.

Insider Activity at Marqeta

In other news, CRO Todd Pollak sold 116,493 shares of the business’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 transaction of $721,091.67. Following the completion of the sale, the executive 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jason M. Gardner sold 2,250,000 shares of the business’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 sale, the director owned 15,399,000 shares of the company’s stock, valued at approximately $102,095,370. This represents a 12.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,398,120 shares of company stock worth $15,836,577. Insiders own 12.61% of the company’s stock.

Institutional Investors Weigh In On Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of MQ. Alpine Global Management LLC bought a new stake in shares of Marqeta during the first quarter valued at approximately $42,000. Blueshift Asset Management LLC increased its holdings in shares of Marqeta by 23.2% during the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock valued at $51,000 after acquiring an additional 2,333 shares in the last quarter. R Squared Ltd increased its holdings in shares of Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company’s stock valued at $54,000 after acquiring an additional 11,296 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings 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 buying an additional 3,737 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Marqeta during the first quarter worth $57,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Up 0.8%

NASDAQ:MQ opened at $5.10 on Friday. The stock has a market cap of $2.29 billion, a P/E ratio of -39.23 and a beta of 1.51. The stock’s 50-day moving average is $5.92 and its 200-day moving average is $5.25. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04.

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.