Vanguard Group Inc. Sells 1,833,278 Shares of Marqeta, Inc. $MQ

Key Points

• Vanguard Group cut its Marqeta stake by 4.7% in the fourth quarter, selling 1.83 million shares but still holding more than 37.5 million shares, or about 8.5% of the company.
• Analysts remain cautious on Marqeta: the stock has a consensus rating of "Reduce" and an average price target of $5.19, even though JPMorgan started coverage with an overweight rating while others kept neutral or sell views.
• Marqeta reported improving quarterly results, posting $0.02 EPS and $165.8 million in revenue, up 19.2% year over year and slightly above analyst expectations.

Vanguard Group Inc. trimmed its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 37,515,356 shares of the company's stock after selling 1,833,278 shares during the period. Vanguard Group Inc. owned about 8.52% of Marqeta worth $178,198,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in Marqeta in the 3rd quarter valued at $26,000. CWM LLC boosted its position in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company's stock valued at $30,000 after buying an additional 2,821 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Marqeta in the 3rd quarter valued at $55,000. Daiwa Securities Group Inc. bought a new position in Marqeta in the 2nd quarter valued at $66,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Marqeta in the 3rd quarter valued at $60,000. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group increased their price objective on Marqeta from $4.25 to $4.75 and gave the company a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Marqeta in a research report on Tuesday, February 17th. They issued an "overweight" rating and a $6.00 price objective on the stock. 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 research report on Wednesday, February 25th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Marqeta in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $5.19.

Insider Buying and Selling at Marqeta

In related news, Director Elaine Paul sold 17,452 shares of the firm's stock in a transaction 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 sale, the director owned 17,453 shares of the company's stock, valued at approximately $78,014.91. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson C. Linville acquired 25,570 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the purchase, the director directly owned 104,220 shares in the company, valued at $409,584.60. This trade represents a 32.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 12.61% of the stock is owned by company insiders.

Marqeta Price Performance

NASDAQ:MQ opened at $4.17 on Monday. Marqeta, Inc. has a 12-month low of $3.70 and a 12-month high of $7.04. The firm has a market capitalization of $1.78 billion, a P/E ratio of 417.42 and a beta of 1.35. The stock's fifty day simple moving average is $4.11 and its 200-day simple moving average is $4.42.

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

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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