Marqeta, Inc. $MQ Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,348,634 shares of the company’s stock after selling 3,297,706 shares during the quarter. Vanguard Group Inc. owned 0.09% of Marqeta worth $207,761,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in Marqeta by 271.5% during the 3rd 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 period. Versor Investments LP purchased a new position in Marqeta in the third quarter valued at about $247,000. Bryce Point Capital LLC acquired a new position in shares of Marqeta during the third quarter worth about $619,000. Principal Financial Group Inc. boosted its position in shares of Marqeta by 2,582.3% in the third quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock worth $3,797,000 after buying an additional 692,354 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Marqeta by 4.2% in the third quarter. Teacher Retirement System of Texas now owns 111,726 shares of the company’s stock valued at $590,000 after buying an additional 4,464 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of MQ stock opened at $3.84 on Monday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -128.00 and a beta of 1.48. Marqeta, Inc. has a one year low of $3.47 and a one year high of $7.04. The company’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $4.93.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $167.05 million. During the same period in the previous year, the company earned ($0.05) earnings per share. Marqeta’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.

Insider Buying and Selling at Marqeta

In related news, Director Jason M. Gardner sold 69,043 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $5.00, for a total transaction of $345,215.00. Following the sale, the director directly owned 293,334 shares of the company’s stock, valued at approximately $1,466,670. This represents a 19.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 218,509 shares of company stock valued at $1,092,545. 12.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MQ shares. Morgan Stanley reduced their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. Wolfe Research cut shares of Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. UBS Group lowered their price target on shares of Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. started coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target on the stock. Finally, Zacks Research cut shares of Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Marqeta presently has a consensus rating of “Reduce” and an average target price of $5.14.

Marqeta 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.