GSA Capital Partners LLP Grows Position in Marqeta, Inc. $MQ

GSA Capital Partners LLP grew its position in Marqeta, Inc. (NASDAQ:MQ) by 381.0% during the third quarter, HoldingsChannel.com reports. The fund owned 181,166 shares of the company’s stock after acquiring an additional 143,502 shares during the quarter. GSA Capital Partners LLP’s holdings in Marqeta were worth $957,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MQ. Nisa Investment Advisors LLC boosted its position in shares of Marqeta by 61.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after acquiring an additional 3,737 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Marqeta during the second quarter valued at $66,000. Campbell & CO Investment Adviser LLC bought a new position in Marqeta during the third quarter valued at $60,000. HUB Investment Partners LLC bought a new position in Marqeta during the second quarter valued at $80,000. Finally, AQR Capital Management LLC purchased a new position in shares of Marqeta in the 1st quarter worth $57,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jason M. Gardner sold 113,366 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $5.00, for a total transaction of $566,830.00. Following the transaction, the director owned 303,467 shares of the company’s stock, valued at approximately $1,517,335. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 218,509 shares of company stock worth $1,092,545 in the last ninety days. 12.61% of the stock is owned by insiders.

Marqeta Trading Up 2.4%

Shares of NASDAQ:MQ opened at $4.24 on Friday. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -53.00 and a beta of 1.48. The firm’s 50-day moving average is $4.49 and its 200 day moving average is $5.03.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Mizuho restated a “neutral” rating and set a $4.50 target price (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. UBS Group reduced their price objective on Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. started coverage on Marqeta in a research report on Tuesday. They set an “overweight” rating and a $6.00 price objective on the stock. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Friday, January 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $5.25.

About Marqeta

Marqeta is a modern card issuing and payment processing platform that enables businesses to design, launch and manage customized payment cards. The company offers a fully programmable open API that allows clients to create virtual, physical and tokenized payment cards with real-time transaction controls and dynamic spend limits. By leveraging Marqeta’s infrastructure, companies can streamline their payment operations, reduce time to market and deliver tailored payment experiences to end consumers.

Founded in 2010 and headquartered in Oakland, California, Marqeta was established by CEO Jason Gardner with the goal of transforming traditional card issuance through cloud-native technology.