Martha Cummings Sells 40,241 Shares of Marqeta, Inc. (NASDAQ:MQ) Stock

Marqeta, Inc. (NASDAQ:MQ) Director Martha Cummings sold 40,241 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction of $220,118.27. Following the completion of the sale, the director now directly owns 19,000 shares in the company, valued at $103,930. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Marqeta Stock Performance

MQ stock opened at $5.48 on Friday. Marqeta, Inc. has a one year low of $4.65 and a one year high of $7.36. The stock has a market capitalization of $2.84 billion, a PE ratio of -15.22 and a beta of 1.78. The company has a fifty day moving average of $5.44 and a 200-day moving average of $5.94.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The firm had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $117.05 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was down 45.8% compared to the same quarter last year. Equities analysts forecast that Marqeta, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Marqeta

Several hedge funds and other institutional investors have recently made changes to their positions in MQ. Vanguard Group Inc. increased its holdings in Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after acquiring an additional 1,604,223 shares in the last quarter. Capital International Investors increased its holdings in Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after acquiring an additional 4,609,526 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Marqeta by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock valued at $44,015,000 after acquiring an additional 900,675 shares in the last quarter. Finally, Alkeon Capital Management LLC increased its holdings in Marqeta by 94.2% during the 3rd quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock valued at $30,828,000 after acquiring an additional 2,500,000 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho dropped their target price on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Barclays dropped their target price on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research report on Wednesday, May 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $5.50 target price on shares of Marqeta in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.