Insider Selling: Marqeta (NASDAQ:MQ) Director Sells $68,962.40 in Stock

Marqeta, Inc. (NASDAQ:MQ) Director Elaine Paul sold 18,148 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $3.80, for a total transaction of $68,962.40. Following the completion of the transaction, the director directly owned 35,602 shares in the company, valued at approximately $135,287.60. This represents a 33.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Elaine Paul also recently made the following trade(s):

• On Tuesday, April 21st, Elaine Paul sold 17,452 shares of Marqeta stock. The shares were sold at an average price of $4.47, for a total transaction of $78,010.44.

Marqeta Trading Up 0.3%

MQ stock opened at $3.88 on Friday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 388.39 and a beta of 1.32. Marqeta, Inc. has a 12 month low of $3.70 and a 12 month high of $7.04. The firm has a 50-day moving average of $4.06 and a two-hundred day moving average of $4.26.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. UBS Group lifted their price target on Marqeta from $4.25 to $4.75 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.22.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Marqeta in the third quarter worth approximately $26,000. EFG International AG acquired a new position in shares of Marqeta in the 4th quarter valued at $27,000. CWM LLC lifted its stake in shares of Marqeta by 82.2% in the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after purchasing an additional 2,821 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Marqeta during the 1st quarter worth $27,000. Finally, Leonteq Securities AG purchased a new position in shares of Marqeta during the 4th quarter worth $33,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.