Marqeta (NASDAQ:MQ) CRO Todd Pollak Sells 18,750 Shares of Stock

Marqeta, Inc. (NASDAQ:MQ) CRO Todd Pollak sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total value of $316,500.00. Following the sale, the executive owned 185,008 shares in the company, valued at approximately $3,122,935.04. This represents a 9.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Price Performance

Shares of MQ stock opened at $17.41 on Friday. The company has a fifty day moving average price of $16.15 and a two-hundred day moving average price of $16.82. Marqeta, Inc. has a one year low of $14.80 and a one year high of $28.16. The stock has a market cap of $1.85 billion, a P/E ratio of 435.36 and a beta of 1.31.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. During the same period in the previous year, the business earned ($0.08) EPS. Marqeta’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MQ. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. UBS Group lifted their price objective on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $20.12.

Institutional Investors Weigh In On Marqeta

A number of institutional investors have recently made changes to their positions in the company. Quarry LP bought a new position in shares of Marqeta during the third quarter worth approximately $26,000. Western Wealth Management LLC bought a new stake in Marqeta in the 1st quarter valued at $27,000. EFG International AG bought a new stake in Marqeta in the 4th quarter valued at $27,000. CWM LLC grew its holdings in Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after buying an additional 2,821 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Marqeta in the 4th quarter valued at $33,000. Institutional investors own 78.64% of the company’s stock.

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.