Marqeta (NASDAQ:MQ) Director Elaine Paul Sells 17,452 Shares

Marqeta, Inc. (NASDAQ:MQ) Director Elaine Paul sold 17,452 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total value of $78,010.44. Following the transaction, the director owned 17,453 shares of the company’s stock, valued at $78,014.91. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Price Performance

Shares of Marqeta stock traded up $0.04 during trading on Wednesday, hitting $4.47. 2,024,604 shares of the company were exchanged, compared to its average volume of 3,697,035. The firm has a market capitalization of $1.91 billion, a P/E ratio of -149.00 and a beta of 1.39. Marqeta, Inc. has a 1-year low of $3.70 and a 1-year high of $7.04. The firm’s fifty day moving average price is $4.06 and its 200 day moving average price is $4.46.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.01. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $167.05 million. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The company’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 company earned ($0.05) EPS. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MQ has been the subject of several research analyst reports. Wolfe Research lowered Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th. Morgan Stanley decreased their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Mizuho reiterated a “neutral” rating and issued a $4.50 price objective (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Finally, UBS Group decreased their price objective on Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $5.14.

Institutional Investors Weigh In On Marqeta

Institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in Marqeta by 193.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after acquiring an additional 1,554,741 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Marqeta by 2,582.3% in the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after acquiring an additional 692,354 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake in Marqeta by 1,078.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after acquiring an additional 1,286,258 shares in the last quarter. SG Americas Securities LLC lifted its stake in Marqeta by 603.5% in the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock valued at $5,205,000 after acquiring an additional 940,022 shares in the last quarter. Finally, Abbington Investment Group bought a new stake in Marqeta in the 4th quarter valued at approximately $1,939,000. Institutional investors own 78.64% of the company’s stock.

About Marqeta

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.