VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Marqeta, Inc. $MQ

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the 2nd quarter, HoldingsChannel reports. The fund purchased 192,544 shares of the company’s stock, valued at approximately $1,123,000.

Other hedge funds also recently modified their holdings of the company. Alpine Global Management LLC acquired a new position in shares of Marqeta in the 1st quarter worth $42,000. Blueshift Asset Management LLC grew its holdings in shares of Marqeta by 23.2% in the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company’s stock worth $51,000 after acquiring an additional 2,333 shares during the last quarter. R Squared Ltd grew its holdings in shares of Marqeta by 624.1% in the 1st quarter. R Squared Ltd now owns 13,106 shares of the company’s stock worth $54,000 after acquiring an additional 11,296 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Marqeta in the 1st quarter worth $57,000. Finally, Abel Hall LLC acquired a new position in shares of Marqeta in the 2nd quarter worth $61,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jason M. Gardner sold 2,250,000 shares of Marqeta 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 owned 15,399,000 shares in the company, valued at approximately $102,095,370. The trade was a 12.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Todd Pollak sold 116,493 shares of Marqeta stock in a transaction on Friday, August 15th. The shares were 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 represents a 24.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,398,120 shares of company stock worth $15,836,577 in the last quarter. 12.61% of the stock is currently owned by corporate insiders.

Marqeta Trading Up 1.9%

Shares of MQ stock opened at $4.75 on Friday. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.04. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -36.54 and a beta of 1.51. The stock’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $5.31.

Wall Street Analysts Forecast Growth

MQ has been the topic of a number of recent research reports. UBS Group lifted their target price on Marqeta from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Thursday, August 7th. The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the stock a “sell” rating in a report on Monday, October 13th. JPMorgan Chase & Co. lifted their target price on Marqeta from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Marqeta in a report on Wednesday, October 8th. Finally, Citigroup initiated coverage on Marqeta in a report on Wednesday. They issued a “neutral” rating and a $5.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Marqeta currently has a consensus rating of “Hold” and an average target price of $5.77.

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.