Vanguard Group Inc. Decreases Stock Holdings in Marqeta, Inc. $MQ

Vanguard Group Inc. cut its stake in Marqeta, Inc. (NASDAQ:MQ) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,348,634 shares of the company’s stock after selling 3,297,706 shares during the period. Vanguard Group Inc. owned approximately 8.78% of Marqeta worth $207,761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MQ. Nordea Investment Management AB increased its stake in Marqeta by 193.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after purchasing an additional 1,554,741 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Marqeta by 272.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock valued at $3,037,000 after buying an additional 381,016 shares in the last quarter. Norges Bank acquired a new position in shares of Marqeta during the 2nd quarter worth $4,057,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Marqeta in the 2nd quarter worth about $460,000. Finally, Principal Financial Group Inc. grew its stake in Marqeta by 2,582.3% in the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after acquiring an additional 692,354 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MQ shares. Mizuho restated a “neutral” rating and set a $4.50 target price (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Keefe, Bruyette & Woods cut their price objective on Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Friday, January 2nd. Morgan Stanley lowered their target price on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. initiated coverage on Marqeta in a research report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target for the company. Finally, UBS Group reduced their price objective on Marqeta from $5.00 to $4.25 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $5.14.

Insider Buying and Selling at Marqeta

In other news, Director Jason M. Gardner sold 113,366 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $5.00, for a total transaction of $566,830.00. Following the transaction, the director directly owned 303,467 shares in the company, valued at $1,517,335. This represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 218,509 shares of company stock worth $1,092,545. Corporate insiders own 12.61% of the company’s stock.

Marqeta Stock Down 2.0%

Shares of Marqeta stock opened at $3.84 on Monday. Marqeta, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $7.04. The business’s fifty day moving average is $4.40 and its two-hundred day moving average is $4.93. The firm has a market cap of $1.69 billion, a PE ratio of -128.00 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

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.