Handelsinvest Investeringsforvaltning Reduces Stake in Marqeta, Inc. (NASDAQ:MQ)

Handelsinvest Investeringsforvaltning lowered its stake in Marqeta, Inc. (NASDAQ:MQ) by 34.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,945 shares of the company’s stock after selling 11,393 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Marqeta were worth $131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Marqeta by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after purchasing an additional 3,979 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in Marqeta in the first quarter worth about $328,000. Renaissance Capital LLC lifted its stake in Marqeta by 1.2% in the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock worth $1,834,000 after purchasing an additional 3,523 shares during the last quarter. Vanguard Group Inc. lifted its stake in Marqeta by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company’s stock worth $319,636,000 after purchasing an additional 1,592,977 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Marqeta in the fourth quarter worth about $194,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

MQ has been the subject of several analyst reports. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Tuesday, June 25th. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of Marqeta in a research note on Wednesday, May 8th. Monness Crespi & Hardt lifted their price target on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Mizuho decreased their price target on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Finally, Barclays decreased their price target on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.25.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $5.54 on Thursday. The firm has a 50 day moving average of $5.44 and a 200 day moving average of $5.92. Marqeta, Inc. has a 52 week low of $4.65 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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 business had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. Equities research analysts predict that Marqeta, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martha Cummings sold 40,241 shares of the business’s stock in a transaction 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 sale, the director now directly owns 19,000 shares of the company’s stock, valued at $103,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.12% of the company’s stock.

About Marqeta

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.