Marqeta (NASDAQ:MQ) Director Sells $78,010.44 in Stock

Key Points

• Director Elaine Paul sold 17,452 shares of Marqeta at an average price of $4.47 on April 21 for $78,010.44, cutting her stake by 50.00% to 17,453 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• Marqeta stock traded at $4.47 (up 0.9%) with a market cap of about $1.91 billion, a negative P/E of -149, 50-day/200-day moving averages near $4.06/$4.46, and a 52-week range of $3.70–$7.04.
• In the latest quarter Marqeta posted $0.00 EPS (beating estimates) and $172.11M revenue (up 26.7% YoY) but remains unprofitable; analysts' consensus is an average "Reduce" rating with a $5.14 target after several price-target cuts.

Marqeta, Inc. (NASDAQ:MQ - Get Free Report) Director Elaine Paul sold 17,452 shares of Marqeta stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the completion of the transaction, the director directly owned 17,453 shares of the company's stock, valued at $78,014.91. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Trading Up 0.9%

Shares of Marqeta stock traded up $0.04 during trading on Wednesday, reaching $4.47. The company's stock had a trading volume of 2,024,604 shares, compared to its average volume of 3,697,035. The stock has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $4.46. Marqeta, Inc. has a one year low of $3.70 and a one year high of $7.04. The stock has a market capitalization of $1.91 billion, a P/E ratio of -149.00 and a beta of 1.39.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.01. The business had revenue of $172.11 million during the quarter, compared to analysts' expectations of $167.05 million. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The firm's revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Marqeta, Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

MQ has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Marqeta from $6.00 to $5.50 and set a "market perform" rating on the stock in a research report on Friday, January 2nd. JPMorgan Chase & Co. assumed coverage on Marqeta in a report on Tuesday, February 17th. They set an "overweight" rating and a $6.00 price objective for the company. UBS Group dropped their price objective on Marqeta from $5.00 to $4.25 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Morgan Stanley dropped their price objective on Marqeta from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Wednesday, February 25th. Finally, Wolfe Research cut Marqeta from an "outperform" rating to a "peer perform" rating in a report on Thursday, January 8th. 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.com, the company presently has an average rating of "Reduce" and an average target price of $5.14.

Hedge Funds Weigh In On Marqeta

Several institutional investors have recently modified their holdings of MQ. Capital World Investors acquired a new position in shares of Marqeta during the 4th quarter worth about $29,115,000. Wellington Management Group LLP grew its position in shares of Marqeta by 51.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company's stock worth $62,295,000 after buying an additional 4,029,486 shares during the period. Marshall Wace LLP grew its position in shares of Marqeta by 694.3% during the 3rd quarter. Marshall Wace LLP now owns 2,338,737 shares of the company's stock worth $12,349,000 after buying an additional 2,044,290 shares during the period. Invesco Ltd. grew its position in shares of Marqeta by 26.8% during the 4th quarter. Invesco Ltd. now owns 8,218,888 shares of the company's stock worth $39,040,000 after buying an additional 1,736,796 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of Marqeta by 181.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 2,470,202 shares of the company's stock worth $13,043,000 after buying an additional 1,591,801 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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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