Marqeta (NASDAQ:MQ) Given Sell Rating at The Goldman Sachs Group

Key Points

• Marqeta's stock was downgraded by The Goldman Sachs Group from a "hold" rating to a "sell" rating, with a new price target of $5.00, suggesting a potential upside of 6.38% from its current price.
• While the consensus rating for Marqeta is "Hold," analysts have varying opinions, with three at "Buy," nine at "Hold," and two at "Sell," along with an average price target of $5.84.
• Recent insider trading showed significant sales of shares by executives, including Director Jason M. Gardner, who sold 31,627 shares, lowering his ownership stake in the company.

Marqeta (NASDAQ:MQ - Get Free Report)'s stock had its "sell" rating reissued by equities researchers at The Goldman Sachs Group in a research note issued to investors on Monday, MarketBeat reports. They presently have a $5.00 price target on the stock, down from their prior price target of $7.50. The Goldman Sachs Group's price target points to a potential upside of 6.38% from the company's previous close.

Several other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Marqeta in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. UBS Group upped their price objective on shares of Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $6.50 to $6.00 and set a "market perform" rating on the stock in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.84.

Marqeta Price Performance

NASDAQ:MQ opened at $4.70 on Monday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -36.15 and a beta of 1.51. The company's 50-day moving average is $5.82 and its two-hundred day moving average is $5.29. Marqeta has a 1-year low of $3.37 and a 1-year high of $7.04.

Insiders Place Their Bets

In related news, Director Jason M. Gardner sold 31,627 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total transaction of $197,985.02. Following the completion of the sale, the director owned 15,367,373 shares in the company, valued at $96,199,754.98. This represents a 0.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Todd Pollak sold 116,493 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $6.19, for a total transaction of $721,091.67. Following the sale, the executive owned 364,525 shares of the company's stock, valued at approximately $2,256,409.75. This represents a 24.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,398,120 shares of company stock valued at $15,836,577. 12.61% of the stock is owned by company insiders.

Institutional Trading of Marqeta

A number of large investors have recently bought and sold shares of the business. Blueshift Asset Management LLC boosted its stake in Marqeta by 23.2% during the 1st quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after purchasing an additional 2,333 shares during the period. Jasper Ridge Partners L.P. lifted its stake in shares of Marqeta by 3.1% in the 2nd quarter. Jasper Ridge Partners L.P. now owns 95,244 shares of the company's stock worth $555,000 after acquiring an additional 2,839 shares during the period. Arizona State Retirement System lifted its stake in shares of Marqeta by 3.2% in the first quarter. Arizona State Retirement System now owns 120,131 shares of the company's stock valued at $495,000 after purchasing an additional 3,734 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Marqeta by 61.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company's stock valued at $57,000 after purchasing an additional 3,737 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Marqeta by 1.4% in the second quarter. Cerity Partners LLC now owns 294,854 shares of the company's stock valued at $1,719,000 after purchasing an additional 3,993 shares during the period. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.