UBS Group AG Cuts Stock Position in Marqeta, Inc. $MQ

UBS Group AG lowered its stake in Marqeta, Inc. (NASDAQ:MQ) by 39.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 686,477 shares of the company’s stock after selling 451,016 shares during the period. UBS Group AG’s holdings in Marqeta were worth $3,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Marqeta by 51.9% in the 3rd quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock worth $62,295,000 after buying an additional 4,029,486 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Marqeta by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,450,737 shares of the company’s stock worth $44,624,000 after buying an additional 130,037 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Marqeta by 7.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,214,458 shares of the company’s stock worth $43,372,000 after buying an additional 587,863 shares during the last quarter. Invesco Ltd. grew its stake in shares of Marqeta by 3.4% in the 3rd quarter. Invesco Ltd. now owns 6,482,092 shares of the company’s stock worth $34,225,000 after buying an additional 213,244 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its stake in shares of Marqeta by 181.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 2,470,202 shares of the company’s stock worth $13,043,000 after buying an additional 1,591,801 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MQ shares. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Friday, March 27th. UBS Group lifted their target price on 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 Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 price target for the company. Finally, Morgan Stanley lowered their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Marqeta currently has an average rating of “Reduce” and a consensus target price of $5.22.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.97 on Monday. The company has a market cap of $1.68 billion, a P/E ratio of 397.40 and a beta of 1.35. Marqeta, Inc. has a 1 year low of $3.70 and a 1 year high of $7.04. The stock’s fifty day moving average price is $4.10 and its 200-day moving average price is $4.37.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $165.80 million for the quarter, compared to the consensus estimate of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, sell-side analysts anticipate that Marqeta, Inc. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elaine Paul sold 17,452 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total transaction of $78,010.44. Following the transaction, the director directly owned 17,453 shares of the company’s stock, valued at $78,014.91. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson C. Linville purchased 25,570 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the completion of the acquisition, the director directly owned 104,220 shares in the company, valued at approximately $409,584.60. This trade represents a 32.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 12.61% of the company’s stock.

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.