Marqeta, Inc. $MQ Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Marqeta, Inc. (NASDAQ:MQ) by 12.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,072,520 shares of the company’s stock after selling 287,789 shares during the quarter. Nordea Investment Management AB’s holdings in Marqeta were worth $9,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP purchased a new stake in Marqeta during the 3rd quarter worth about $26,000. CTC Alternative Strategies Ltd. purchased a new position in shares of Marqeta in the 3rd quarter valued at about $55,000. Daiwa Securities Group Inc. acquired a new position in shares of Marqeta during the second quarter worth about $66,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Marqeta during the third quarter worth about $60,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Marqeta during the third quarter worth approximately $62,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $4.19 on Thursday. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04. The firm has a market capitalization of $1.79 billion, a P/E ratio of -139.67 and a beta of 1.48. The company’s fifty day moving average price is $4.13 and its 200 day moving average price is $4.67.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 earnings per share (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 during the quarter, compared to the consensus estimate of $167.05 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Marqeta’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, sell-side analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho reiterated 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 reissued a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. Wolfe Research lowered shares of Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. UBS Group decreased their price objective on shares of Marqeta from $5.00 to $4.25 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marqeta currently has a consensus rating of “Reduce” and an average target price of $5.14.

Insider Activity

In other news, Director Judson C. Linville purchased 25,570 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of $3.93 per share, for a total transaction of $100,490.10. Following the purchase, the director directly owned 104,220 shares of the company’s stock, valued at $409,584.60. This represents a 32.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.61% of the stock is currently owned by company insiders.

Marqeta 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.