Militia Capital Partners LP Takes Position in Marqeta, Inc. $MQ

Militia Capital Partners LP acquired a new stake in Marqeta, Inc. (NASDAQ:MQ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 218,899 shares of the company’s stock, valued at approximately $1,156,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MQ. AQR Capital Management LLC bought a new position in Marqeta during the 1st quarter worth about $57,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Marqeta in the 3rd quarter valued at about $60,000. Daiwa Securities Group Inc. purchased a new stake in shares of Marqeta in the 2nd quarter worth approximately $66,000. Certuity LLC lifted its position in shares of Marqeta by 22.3% in the 3rd quarter. Certuity LLC now owns 14,235 shares of the company’s stock worth $75,000 after purchasing an additional 2,596 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Marqeta during the third quarter valued at approximately $78,000. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MQ has been the topic of several research reports. JPMorgan Chase & Co. started coverage on shares of Marqeta in a report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. UBS Group cut their price target on Marqeta from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Mizuho restated a “neutral” rating and set a $4.50 price objective (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Finally, Morgan Stanley dropped their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Marqeta has an average rating of “Reduce” and an average price target of $5.14.

Marqeta Price Performance

NASDAQ MQ opened at $3.97 on Tuesday. Marqeta, Inc. has a 52 week low of $3.47 and a 52 week high of $7.04. The company has a 50 day moving average price of $4.22 and a 200 day moving average price of $4.76. The firm has a market cap of $1.70 billion, a PE ratio of -132.33 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last released its quarterly 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 business had revenue of $172.11 million for the quarter, compared to analyst estimates of $167.05 million. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jason M. Gardner sold 69,043 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $5.00, for a total value of $345,215.00. Following the completion of the sale, the director owned 293,334 shares of the company’s stock, valued at $1,466,670. This trade represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Judson C. Linville bought 25,570 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the purchase, the director owned 104,220 shares in the company, valued at $409,584.60. The trade was a 32.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 218,509 shares of company stock valued at $1,092,545 in the last three months. Insiders own 12.61% of the company’s stock.

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.