Elaine Paul Sells 18,148 Shares of Marqeta (NASDAQ:MQ) Stock

Marqeta, Inc. (NASDAQ:MQ) Director Elaine Paul sold 18,148 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $3.80, for a total value of $68,962.40. Following the completion of the sale, the director owned 35,602 shares of the company’s stock, valued at approximately $135,287.60. This trade represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $4.47, for a total value of $78,010.44.

Marqeta Stock Performance

Shares of MQ stock opened at $3.87 on Thursday. The stock’s 50-day simple moving average is $4.06 and its 200-day simple moving average is $4.27. The firm has a market capitalization of $1.64 billion, a PE ratio of 387.39 and a beta of 1.32. Marqeta, Inc. has a fifty-two week low of $3.70 and a fifty-two week high of $7.04.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The company’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) earnings per share. Sell-side analysts forecast that Marqeta, Inc. will post 0.04 earnings per share for the current year.

Institutional Trading of Marqeta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Marqeta during the third quarter worth about $26,000. EFG International AG acquired a new stake in Marqeta during the fourth quarter worth about $27,000. CWM LLC grew its holdings in Marqeta by 82.2% during the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after acquiring an additional 2,821 shares during the period. Western Wealth Management LLC acquired a new stake in Marqeta during the first quarter worth about $27,000. Finally, Leonteq Securities AG acquired a new stake in Marqeta in the fourth quarter valued at approximately $33,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MQ. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a report on Friday, March 27th. Morgan Stanley cut their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group increased their price objective on Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.22.

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.