Walleye Capital LLC Sells 157,442 Shares of Marqeta, Inc. $MQ

Walleye Capital LLC lowered its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 51.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,195 shares of the company’s stock after selling 157,442 shares during the quarter. Walleye Capital LLC’s holdings in Marqeta were worth $864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alpine Global Management LLC bought a new position in Marqeta during the 1st quarter valued at $42,000. Nisa Investment Advisors LLC raised its holdings 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 last quarter. AQR Capital Management LLC purchased a new stake in shares of Marqeta in the first quarter valued at about $57,000. Abel Hall LLC bought a new position in shares of Marqeta during the second quarter valued at about $61,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Marqeta during the second quarter worth about $81,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Trading Up 2.5%

Shares of MQ stock opened at $4.94 on Thursday. The stock has a market capitalization of $2.17 billion, a P/E ratio of -61.75 and a beta of 1.48. The firm’s 50 day moving average is $4.76 and its 200 day moving average is $5.44. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The company had revenue of $163.31 million for the quarter, compared to analysts’ expectations of $148.37 million. During the same period in the prior year, the business earned ($0.06) earnings per share. Marqeta’s revenue for the quarter was up 27.7% compared to the same quarter last year. On average, equities analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on MQ. Citigroup upgraded shares of Marqeta to a “hold” rating in a research note on Thursday, October 23rd. Zacks Research lowered Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Keefe, Bruyette & Woods decreased their price target on Marqeta from $6.50 to $6.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. UBS Group cut their price objective on Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group set a $5.00 price objective on Marqeta and gave the company a “sell” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.50.

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.