Key Points
- Marqeta CRO Todd Pollak sold 18,750 shares on July 1 at an average price of $16.88, totaling about $316,500. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he now directly owns 185,008 shares.
- Marqeta shares rose 4.8% and opened at $17.41 on Friday. The company has a market cap of $1.85 billion and has traded between $14.80 and $28.16 over the past year.
- The company recently beat earnings expectations, reporting $0.02 EPS versus a loss estimate of $0.01 and revenue of $165.8 million, up 19.2% year over year. Analysts currently have a mixed view, with a consensus rating of “Reduce” and an average target price of $20.12.
Marqeta, Inc. (NASDAQ:MQ - Get Free Report) CRO Todd Pollak sold 18,750 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the transaction, the executive directly owned 185,008 shares in the company, valued at approximately $3,122,935.04. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Marqeta Stock Up 4.8%
Shares of Marqeta stock opened at $17.41 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 435.36 and a beta of 1.31. Marqeta, Inc. has a twelve month low of $14.80 and a twelve month high of $28.16. The company has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $16.82.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. 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 business posted ($0.08) EPS. The business's revenue was up 19.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Marqeta, Inc. will post 0.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
MQ has been the topic of a number of analyst reports. UBS Group increased their price target on Marqeta from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Marqeta in a research report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Marqeta from $4.50 to $18.00 and gave the stock a "hold" rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Marqeta has an average rating of "Reduce" and a consensus target price of $20.12.
Check Out Our Latest Stock Analysis on Marqeta
Hedge Funds Weigh In On Marqeta
Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Tudor Investment Corp ET AL boosted its position in shares of 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 worth $7,421,000 after acquiring an additional 1,286,258 shares in the last quarter. Abbington Investment Group acquired a new position in Marqeta during the fourth quarter valued at approximately $1,939,000. SG Americas Securities LLC raised its position in Marqeta by 603.5% during the fourth 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 in the last quarter. Donor Advised Charitable Giving Inc. bought a new stake in Marqeta during the fourth quarter worth $1,257,000. Finally, JPMorgan Chase & Co. lifted its stake in Marqeta by 271.5% during the third quarter. JPMorgan Chase & Co. now owns 1,335,320 shares of the company's stock worth $7,050,000 after purchasing an additional 975,861 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.
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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