Marqeta (NASDAQ:MQ) Director Jason Gardner Sells 113,366 Shares

Marqeta, Inc. (NASDAQ:MQ) Director Jason Gardner sold 113,366 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $5.00, for a total value of $566,830.00. Following the sale, the director owned 303,467 shares of the company’s stock, valued at approximately $1,517,335. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Marqeta Stock Up 2.0%

Shares of Marqeta stock traded up $0.10 during mid-day trading on Friday, reaching $5.07. 7,886,338 shares of the stock traded hands, compared to its average volume of 5,772,471. The stock has a market capitalization of $2.23 billion, a PE ratio of -63.38 and a beta of 1.48. The business has a 50-day moving average of $4.75 and a 200 day moving average of $5.42. Marqeta, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $7.04.

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

Hedge Funds Weigh In On Marqeta

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in Marqeta in the 3rd quarter valued at about $26,000. Alpine Global Management LLC purchased a new stake in shares of Marqeta in the 1st quarter valued at approximately $42,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Marqeta in the 3rd quarter valued at approximately $55,000. Nisa Investment Advisors LLC boosted its position in shares of Marqeta by 61.8% during the 2nd 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 during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Marqeta during the 1st quarter worth approximately $57,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group set a $5.00 target price on shares of Marqeta and gave the stock a “sell” rating in a research note on Monday, October 13th. UBS Group reduced 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. Keefe, Bruyette & Woods cut their target price on Marqeta from $6.50 to $6.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Marqeta in a report on Monday. Finally, Zacks Research cut shares of Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $5.50.

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.