Insider Selling: Marqeta (NASDAQ:MQ) CRO Sells 18,750 Shares of Stock

Marqeta, Inc. (NASDAQ:MQ) CRO Todd Pollak sold 18,750 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total value of $316,500.00. Following the completion of the transaction, the executive owned 185,008 shares of the company’s stock, valued at $3,122,935.04. The trade was a 9.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Trading Up 4.8%

MQ stock traded up $0.79 during midday trading on Thursday, hitting $17.41. The stock had a trading volume of 1,499,583 shares, compared to its average volume of 1,019,398. Marqeta, Inc. has a 52 week low of $14.80 and a 52 week high of $28.16. The stock has a 50-day simple moving average of $16.15 and a 200 day simple moving average of $16.84. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 1,742.74 and a beta of 1.31.

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, beating the consensus estimate 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 previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts forecast that Marqeta, Inc. will post 0.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Marqeta during the 1st quarter worth approximately $57,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Marqeta by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,103 shares of the company’s stock worth $1,150,000 after purchasing an additional 9,319 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Marqeta by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 925,547 shares of the company’s stock worth $3,813,000 after purchasing an additional 65,313 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Marqeta by 22.1% during the first quarter. Intech Investment Management LLC now owns 288,114 shares of the company’s stock worth $1,187,000 after purchasing an additional 52,219 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Marqeta by 8.1% in the second quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock valued at $36,547,000 after buying an additional 471,631 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on MQ shares. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th. 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. Finally, UBS Group raised their target price on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Marqeta presently has a consensus rating of “Reduce” and an average target price of $20.12.

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.