State of New Jersey Common Pension Fund D Cuts Stake in Marqeta, Inc. $MQ

State of New Jersey Common Pension Fund D reduced its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 30.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,200 shares of the company’s stock after selling 159,232 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Marqeta worth $2,112,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alpine Global Management LLC acquired a new stake in Marqeta during the 1st quarter worth approximately $42,000. Blueshift Asset Management LLC increased its position in Marqeta by 23.2% during the 1st 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 position in Marqeta by 624.1% during the 1st 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. AQR Capital Management LLC acquired a new stake in Marqeta during the 1st quarter worth approximately $57,000. Finally, Abel Hall LLC acquired a new stake in Marqeta during the 2nd quarter worth approximately $61,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marqeta

In related news, Director Jason M. Gardner sold 2,250,000 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was 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 in the company, valued at $102,095,370. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the firm’s stock in a transaction 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 transaction, the executive owned 364,525 shares in the company, valued at $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,398,120 shares of company stock valued at $15,836,577. Company insiders own 12.61% of the company’s stock.

Analyst Ratings Changes

MQ has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marqeta in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $5.00 price objective on shares of Marqeta and gave the company a “sell” rating in a research report on Monday, October 13th. Citigroup raised shares of Marqeta to a “hold” rating in a research report on Thursday, October 23rd. Zacks Research raised shares of Marqeta from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, UBS Group increased their target price on Marqeta from $5.00 to $5.75 and gave the company a “neutral” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Marqeta has a consensus rating of “Hold” and an average price target of $5.77.

Marqeta Trading Down 3.0%

Marqeta stock opened at $4.53 on Thursday. The stock has a market cap of $2.03 billion, a P/E ratio of -34.85 and a beta of 1.51. The stock has a 50 day moving average of $5.45 and a 200-day moving average of $5.35. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.04.

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.