Marqeta (NASDAQ:MQ) Trading Down 5.3% – Should You Sell?

Marqeta, Inc. (NASDAQ:MQ)’s share price was down 5.3% during trading on Monday . The company traded as low as $16.59 and last traded at $16.4950. Approximately 57,535 shares were traded during trading, a decline of 94% from the average session volume of 1,011,598 shares. The stock had previously closed at $17.41.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research report on Thursday. UBS Group raised their price target on Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $20.12.

Marqeta Trading Down 5.1%

The business has a 50-day moving average of $16.14 and a two-hundred day moving average of $16.81. The firm has a market cap of $1.75 billion, a P/E ratio of 412.98 and a beta of 1.31.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 5th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. During the same period last year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities analysts expect that Marqeta, Inc. will post 0.14 EPS for the current year.

Insider Activity at Marqeta

In related news, CRO Todd Pollak sold 18,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total value of $316,500.00. Following the completion of the transaction, the executive owned 185,008 shares in the company, valued at $3,122,935.04. This trade represents a 9.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elaine Paul sold 4,537 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $15.20, for a total transaction of $68,962.40. Following the completion of the transaction, the director owned 8,900 shares of the company’s stock, valued at approximately $135,280. This trade represents a 33.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,650 shares of company stock valued at $463,473 in the last ninety days. 12.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Marqeta

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of Marqeta by 18.0% during the fourth quarter. Wellington Management Group LLP now owns 13,927,760 shares of the company’s stock worth $66,157,000 after purchasing an additional 2,129,486 shares during the period. Renaissance Technologies LLC grew its stake in shares of Marqeta by 2.1% in the first quarter. Renaissance Technologies LLC now owns 11,580,288 shares of the company’s stock worth $47,248,000 after purchasing an additional 237,933 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Marqeta by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,779,290 shares of the company’s stock valued at $35,818,000 after purchasing an additional 567,673 shares during the period. Invesco Ltd. increased its holdings in Marqeta by 26.8% in the fourth quarter. Invesco Ltd. now owns 8,218,888 shares of the company’s stock valued at $39,040,000 after purchasing an additional 1,736,796 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Marqeta by 7.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,214,458 shares of the company’s stock worth $43,372,000 after purchasing an additional 587,863 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

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.