Capital World Investors Acquires Shares of 6,129,375 Marqeta, Inc. $MQ

Capital World Investors acquired a new stake in Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, HoldingsChannel reports. The firm acquired 6,129,375 shares of the company’s stock, valued at approximately $29,115,000.

Other large investors have also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL increased its stake in Marqeta by 1,078.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after buying an additional 1,286,258 shares during the period. Principal Financial Group Inc. increased its stake in Marqeta by 2,582.3% in the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after buying an additional 692,354 shares during the period. Abbington Investment Group acquired a new position in shares of Marqeta during the 4th quarter worth $1,939,000. SG Americas Securities LLC increased its stake in shares of Marqeta by 603.5% during the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock worth $5,205,000 after purchasing an additional 940,022 shares during the last quarter. Finally, Donor Advised Charitable Giving Inc. acquired a new position in shares of Marqeta during the 4th quarter worth $1,257,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Transactions at Marqeta

In related news, Director Elaine Paul sold 17,452 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the transaction, the director directly owned 17,453 shares in the company, valued at approximately $78,014.91. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.61% of the company’s stock.

Marqeta Stock Up 3.9%

Shares of MQ opened at $3.97 on Wednesday. Marqeta, Inc. has a 12 month low of $3.70 and a 12 month high of $7.04. The company’s fifty day moving average is $4.08 and its 200-day moving average is $4.30. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 397.40 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The business had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. During the same period last year, the business posted ($0.02) EPS. Marqeta’s revenue was up 19.2% compared to the same quarter last year. As a group, research analysts predict that Marqeta, Inc. will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MQ has been the topic of several analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Friday, March 27th. JPMorgan Chase & Co. initiated coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target on the stock. Morgan Stanley dropped their price target on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Finally, UBS Group increased their price target on shares of Marqeta from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.22.

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.