Judson Linville Buys 25,570 Shares of Marqeta (NASDAQ:MQ) Stock

Marqeta, Inc. (NASDAQ:MQ) Director Judson Linville acquired 25,570 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $3.93 per share, with a total value of $100,490.10. Following the completion of the acquisition, the director directly owned 104,220 shares in the company, valued at $409,584.60. The trade was a 32.51% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $4.05 on Wednesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of -135.00 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 firm’s 50 day simple moving average is $4.36 and its two-hundred day simple moving average is $4.90.

Marqeta (NASDAQ:MQ) last released its earnings results on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company had revenue of $172.11 million for the quarter, compared to analyst estimates of $167.05 million. During the same quarter last year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, equities analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on MQ. Mizuho reaffirmed a “neutral” rating and issued a $4.50 price target (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Morgan Stanley dropped 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. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Friday, January 2nd. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Marqeta has an average rating of “Reduce” and an average target price of $5.14.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MQ. Nordea Investment Management AB grew its stake in shares of Marqeta by 193.0% during the 3rd quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after purchasing an additional 1,554,741 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Marqeta by 272.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock worth $3,037,000 after acquiring an additional 381,016 shares during the last quarter. Norges Bank bought a new stake in shares of Marqeta during the 2nd quarter valued at $4,057,000. Citizens Financial Group Inc. RI bought a new position in Marqeta in the 2nd quarter worth $460,000. Finally, Principal Financial Group Inc. lifted its position in Marqeta by 2,582.3% during the third 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 in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.