Nordea Investment Management AB Trims Stock Position in Marqeta, Inc. $MQ

Key Points

• Nordea Investment Management AB trimmed its Marqeta stake by 12.2% in Q4, selling 287,789 shares and finishing the quarter with 2,072,520 shares worth $9.896 million (about 0.47% ownership).
• Wall Street sentiment is weak — the consensus rating is Reduce with an average price target of $5.14 (one Buy, nine Hold, two Sell) and several firms recently lowered targets; shares opened at $4.19 and the company has a $1.79 billion market cap.
• Marqeta beat Q4 revenue estimates ($172.11M vs. $167.05M) and reported $0.00 EPS vs. -$0.01 expected, but remains unprofitable (negative net margin and ROE), and a director recently bought 25,570 shares at $3.93.

Nordea Investment Management AB trimmed its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,072,520 shares of the company's stock after selling 287,789 shares during the quarter. Nordea Investment Management AB owned about 0.47% of Marqeta worth $9,896,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MQ. State Board of Administration of Florida Retirement System lifted its holdings in Marqeta by 272.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company's stock valued at $3,037,000 after acquiring an additional 381,016 shares during the last quarter. Principal Financial Group Inc. increased its stake in Marqeta by 2,582.3% during the third quarter. Principal Financial Group Inc. now owns 719,166 shares of the company's stock worth $3,797,000 after acquiring an additional 692,354 shares during the last quarter. Norges Bank acquired a new stake in Marqeta during the second quarter worth $4,057,000. Arrowstreet Capital Limited Partnership purchased a new stake in Marqeta in the second quarter valued at $44,463,000. Finally, Prudential Financial Inc. raised its position in Marqeta by 2,245.2% in the second quarter. Prudential Financial Inc. now owns 840,285 shares of the company's stock valued at $4,899,000 after purchasing an additional 804,455 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MQ shares. JPMorgan Chase & Co. started coverage on Marqeta in a research report on Tuesday, February 17th. They set an "overweight" rating and a $6.00 price objective for the company. UBS Group lowered their target price on shares of Marqeta from $5.00 to $4.25 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Mizuho reiterated a "neutral" rating and set a $4.50 price target (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Morgan Stanley reduced their price target on shares of Marqeta from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 25th. Finally, Wolfe Research lowered shares of Marqeta from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $5.14.

Marqeta Price Performance

Shares of Marqeta stock opened at $4.19 on Thursday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -139.67 and a beta of 1.48. The business has a 50-day moving average of $4.13 and a 200 day moving average of $4.67. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.01. The company had revenue of $172.11 million for the quarter, compared to analyst estimates of $167.05 million. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The business's revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other Marqeta news, Director Judson C. Linville bought 25,570 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $3.93 per share, with a total value of $100,490.10. Following the purchase, the director directly owned 104,220 shares in the company, valued at approximately $409,584.60. This represents a 32.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.61% of the company's stock.

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.

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