Key Points
- Marqeta director Elaine Paul sold 18,148 shares on June 12 at an average price of $3.80, generating about $68,962 and cutting her stake by 33.76%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Marqeta’s stock was trading near its 12-month low, opening at $3.89 versus a 12-month range of $3.70 to $7.04. The company’s market cap was about $1.65 billion.
- Recent earnings showed modest growth, with Q1 revenue of $165.8 million, up 19.2% year over year and above analyst estimates. Analysts currently have an average rating of “Reduce” with a consensus price target of $5.22.
Marqeta, Inc. (NASDAQ:MQ - Get Free Report) Director Elaine Paul sold 18,148 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $3.80, for a total transaction of $68,962.40. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Elaine Paul also recently made the following trade(s):
- On Tuesday, April 21st, Elaine Paul sold 17,452 shares of Marqeta stock. The stock was sold at an average price of $4.47, for a total transaction of $78,010.44.
Marqeta Price Performance
Shares of NASDAQ:MQ opened at $3.89 on Wednesday. Marqeta, Inc. has a 12 month low of $3.70 and a 12 month high of $7.04. The company's 50-day moving average price is $4.07 and its two-hundred day moving average price is $4.27. The firm has a market cap of $1.65 billion, a P/E ratio of 389.39 and a beta of 1.32.
Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 EPS for the quarter. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company's revenue was up 19.2% on a year-over-year basis. As a group, equities analysts predict that Marqeta, Inc. will post 0.04 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL lifted its position in Marqeta by 1,078.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company's stock valued at $7,421,000 after purchasing an additional 1,286,258 shares during the period. Principal Financial Group Inc. lifted its position in Marqeta by 2,582.3% during the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company's stock valued at $3,797,000 after purchasing an additional 692,354 shares during the period. Abbington Investment Group acquired a new position in Marqeta during the 4th quarter valued at about $1,939,000. SG Americas Securities LLC lifted its position in Marqeta by 603.5% during the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company's stock valued at $5,205,000 after purchasing an additional 940,022 shares during the period. Finally, Donor Advised Charitable Giving Inc. acquired a new position in Marqeta during the 4th quarter valued at about $1,257,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have commented on MQ shares. Morgan Stanley decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 25th. UBS Group increased their price objective on shares of Marqeta from $4.25 to $4.75 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. began coverage on shares of Marqeta in a research report on Tuesday, February 17th. They set an "overweight" rating and a $6.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Marqeta in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $5.22.
Get Our Latest Analysis on Marqeta
Marqeta Company Profile
(
Get Free Report)
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.
Further Reading
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