Marqeta, Inc. $MQ Shares Bought by Optimus Prime Fund Management Co. Ltd.

Optimus Prime Fund Management Co. Ltd. grew its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 34.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,000,000 shares of the company’s stock after purchasing an additional 255,000 shares during the period. Marqeta makes up about 0.4% of Optimus Prime Fund Management Co. Ltd.’s holdings, making the stock its 20th largest position. Optimus Prime Fund Management Co. Ltd.’s holdings in Marqeta were worth $4,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new position in shares of Marqeta in the 3rd quarter valued at about $26,000. CWM LLC boosted its holdings in Marqeta by 82.2% during the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after buying an additional 2,821 shares in the last quarter. Leonteq Securities AG purchased a new stake in Marqeta during the fourth quarter worth about $33,000. CTC Alternative Strategies Ltd. acquired a new position in Marqeta during the third quarter worth about $55,000. Finally, AQR Capital Management LLC acquired a new position in Marqeta during the first quarter worth about $57,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Performance

Marqeta stock opened at $3.89 on Wednesday. Marqeta, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $7.04. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 389.39 and a beta of 1.32. The stock has a fifty day moving average of $4.07 and a two-hundred day moving average of $4.27.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The business’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share. On average, analysts forecast that Marqeta, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MQ. UBS Group lifted their price target on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley dropped their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. started coverage on Marqeta in a research report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $5.22.

Insiders Place Their Bets

In other Marqeta news, Director Elaine Paul sold 18,148 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $3.80, for a total value of $68,962.40. Following the transaction, the director directly owned 35,602 shares in the company, valued at approximately $135,287.60. This represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.