Marqeta (NASDAQ:MQ) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Marqeta received a "Sell (D-)" rating from Weiss Ratings, indicating potential concerns about its stock performance.
• Analyst ratings are mixed, with one analyst issuing a "buy" rating, ten suggesting "hold," and one giving a "sell," resulting in a consensus rating of "hold" with an average target price of $6.07.
• Insider activity showed significant share sales, including Director Jason M. Gardner and CRO Todd Pollak, raising questions about executives' confidence in the company's prospects.

Marqeta (NASDAQ:MQ - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a report on Thursday, July 17th. They issued a "hold" rating and a $6.00 target price on the stock. The Goldman Sachs Group lifted their target price on Marqeta from $5.50 to $7.50 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Keefe, Bruyette & Woods reduced their price objective on Marqeta from $6.50 to $6.00 and set a "market perform" rating on the stock in a research note on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price objective on Marqeta from $6.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group boosted their price objective on Marqeta from $5.00 to $5.75 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Marqeta currently has a consensus rating of "Hold" and an average target price of $6.07.

Marqeta Stock Up 1.2%

NASDAQ:MQ opened at $5.09 on Wednesday. The business's 50-day simple moving average is $5.86 and its two-hundred day simple moving average is $5.27. The stock has a market cap of $2.28 billion, a PE ratio of -39.15 and a beta of 1.51. Marqeta has a 52 week low of $3.37 and a 52 week high of $7.04.

Insider Activity

In other Marqeta news, Director Jason M. Gardner sold 31,627 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $6.26, for a total value of $197,985.02. Following the transaction, the director directly owned 15,367,373 shares of the company's stock, valued at $96,199,754.98. This trade represents a 0.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Todd Pollak sold 116,493 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive directly owned 364,525 shares in the company, valued at $2,256,409.75. This trade represents a 24.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,398,120 shares of company stock worth $15,836,577 over the last ninety days. 12.61% of the stock is owned by insiders.

Institutional Trading of Marqeta

Several institutional investors have recently added to or reduced their stakes in MQ. Alpine Global Management LLC acquired a new stake in Marqeta in the 1st quarter valued at approximately $42,000. Blueshift Asset Management LLC grew its stake in shares of Marqeta by 23.2% in the first quarter. Blueshift Asset Management LLC now owns 12,400 shares of the company's stock worth $51,000 after acquiring an additional 2,333 shares in the last quarter. R Squared Ltd grew its stake in shares of Marqeta by 624.1% during the first quarter. R Squared Ltd now owns 13,106 shares of the company's stock worth $54,000 after purchasing an additional 11,296 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company's stock worth $57,000 after purchasing an additional 3,737 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Marqeta during the first quarter worth $57,000. Institutional investors and hedge funds own 78.64% of the company's stock.

About Marqeta

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.

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