UBS Group AG Sells 451,016 Shares of Marqeta, Inc. $MQ

Key Points

• UBS Group AG cut its Marqeta stake by 39.7% in the fourth quarter, selling 451,016 shares and leaving it with 686,477 shares worth about $3.26 million.
• Marqeta’s latest earnings showed revenue of $165.8 million, up 19.2% year over year, and EPS of $0.02, slightly above expectations.
• Analysts remain cautious: the stock’s consensus rating is “Reduce,” with an average price target of $5.22, though some firms have recently adjusted targets and ratings.

UBS Group AG lessened its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 39.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 686,477 shares of the company's stock after selling 451,016 shares during the period. UBS Group AG owned about 0.16% of Marqeta worth $3,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MQ. AQR Capital Management LLC bought a new stake in shares of Marqeta in the 1st quarter valued at about $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Marqeta by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company's stock valued at $1,150,000 after purchasing an additional 9,319 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Marqeta by 7.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company's stock valued at $3,813,000 after purchasing an additional 65,313 shares during the period. Intech Investment Management LLC increased its holdings in Marqeta by 22.1% during the 1st quarter. Intech Investment Management LLC now owns 288,114 shares of the company's stock valued at $1,187,000 after purchasing an additional 52,219 shares during the period. Finally, Invesco Ltd. increased its holdings in Marqeta by 8.1% during the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company's stock valued at $36,547,000 after purchasing an additional 471,631 shares during the period. Institutional investors own 78.64% of the company's stock.

Marqeta Stock Performance

MQ stock opened at $3.97 on Monday. Marqeta, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $7.04. The business's 50 day moving average price is $4.10 and its two-hundred day moving average price is $4.37. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 397.40 and a beta of 1.35.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. During the same quarter in the prior year, the business earned ($0.02) EPS. The business's revenue for the quarter was up 19.2% on a year-over-year basis. Sell-side analysts forecast that Marqeta, Inc. will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

MQ has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Marqeta in a report on Friday, March 27th. UBS Group boosted their price target on Marqeta from $4.25 to $4.75 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Morgan Stanley reduced their price target on Marqeta from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. initiated coverage on Marqeta in a report on Tuesday, February 17th. They set an "overweight" rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $5.22.

Insider Buying and Selling

In other Marqeta news, Director Elaine Paul sold 17,452 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total transaction of $78,010.44. Following the transaction, the director owned 17,453 shares in the company, valued at approximately $78,014.91. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson C. Linville bought 25,570 shares of Marqeta stock in a transaction on Friday, February 27th. The shares were purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the acquisition, the director directly owned 104,220 shares in the company, valued at approximately $409,584.60. This trade represents a 32.51% increase in their position. The disclosure for this purchase is available in the SEC filing. 12.61% of the stock is currently owned by corporate insiders.

Marqeta Company Profile

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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