Shell Asset Management Co. Makes New Investment in Marqeta, Inc. (NASDAQ:MQ)

Shell Asset Management Co. purchased a new stake in shares of Marqeta, Inc. (NASDAQ:MQGet Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,501 shares of the company’s stock, valued at approximately $158,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MQ. Capital Research Global Investors increased its position in shares of Marqeta by 349.7% during the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock valued at $410,050,000 after purchasing an additional 28,882,196 shares during the period. Visa Inc. bought a new stake in Marqeta in the first quarter worth about $137,389,000. Vanguard Group Inc. lifted its holdings in Marqeta by 87.7% in the 1st quarter. Vanguard Group Inc. now owns 15,582,276 shares of the company’s stock valued at $172,028,000 after acquiring an additional 7,280,853 shares during the last quarter. Echo Street Capital Management LLC boosted its position in shares of Marqeta by 128.5% during the 1st quarter. Echo Street Capital Management LLC now owns 7,717,780 shares of the company’s stock valued at $85,204,000 after purchasing an additional 4,340,777 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its stake in shares of Marqeta by 176.0% in the 1st quarter. Suvretta Capital Management LLC now owns 4,049,950 shares of the company’s stock worth $44,711,000 after purchasing an additional 2,582,582 shares during the last quarter. 67.04% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Trading Up 2.3 %

MQ stock opened at $6.65 on Friday. The firm has a market cap of $3.61 billion, a PE ratio of -18.47 and a beta of 2.19. Marqeta, Inc. has a 1 year low of $6.05 and a 1 year high of $24.06. The company has a fifty day simple moving average of $7.22 and a 200 day simple moving average of $8.41.

Analyst Ratings Changes

MQ has been the subject of several recent research reports. KeyCorp cut their target price on shares of Marqeta from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Mizuho reduced their price objective on Marqeta from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, August 15th. Keefe, Bruyette & Woods cut their target price on Marqeta from $10.00 to $8.00 in a research report on Monday, October 10th. Wells Fargo & Company lowered Marqeta from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $11.00 to $7.00 in a research report on Thursday, September 8th. Finally, Morgan Stanley cut their target price on shares of Marqeta from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Marqeta has an average rating of “Moderate Buy” and an average target price of $11.42.

About Marqeta

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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Institutional Ownership by Quarter for Marqeta (NASDAQ:MQ)

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