Marqeta (NASDAQ:MQ) Director Jason Gardner Sells 69,043 Shares

Marqeta, Inc. (NASDAQ:MQ) Director Jason Gardner sold 69,043 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $5.00, for a total transaction of $345,215.00. Following the transaction, the director owned 293,334 shares in the company, valued at approximately $1,466,670. The trade was a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Marqeta Price Performance

MQ opened at $5.07 on Friday. The firm has a 50 day simple moving average of $4.75 and a 200 day simple 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. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -63.38 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $148.37 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Several institutional investors have recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP bought a new position in Marqeta during the 3rd quarter worth about $166,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Marqeta during the third quarter worth about $55,000. Tudor Investment Corp ET AL grew its holdings in shares of Marqeta by 1,078.8% during the third quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock worth $7,421,000 after buying an additional 1,286,258 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in Marqeta by 68.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,968 shares of the company’s stock valued at $95,000 after buying an additional 7,321 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Marqeta in the 3rd quarter valued at approximately $217,000. 78.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MQ has been the subject of several analyst reports. The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the stock a “sell” rating in a research report on Monday, October 13th. Zacks Research lowered shares of Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Monday. UBS Group reduced their price target on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Marqeta from $6.50 to $6.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $5.50.

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.