Insider Buying: Marqeta (NASDAQ:MQ) Director Acquires $100,490.10 in Stock

Marqeta, Inc. (NASDAQ:MQ) Director Judson Linville purchased 25,570 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the acquisition, the director owned 104,220 shares of the company’s stock, valued at approximately $409,584.60. The trade was a 32.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Marqeta Price Performance

Shares of MQ stock opened at $4.02 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 $1.77 billion, a price-to-earnings ratio of -134.00 and a beta of 1.48. The business has a 50 day simple moving average of $4.34 and a 200 day simple moving average of $4.89.

Marqeta (NASDAQ:MQ) last announced its earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.01. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $167.05 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, equities analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MQ. Mizuho reiterated a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a research report on Thursday, January 8th. Zacks Research lowered shares of Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Wolfe Research lowered shares of Marqeta from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods dropped their target price on Marqeta from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Friday, January 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $5.14.

Hedge Funds Weigh In On Marqeta

Several hedge funds have recently made changes to their positions in MQ. Nordea Investment Management AB boosted its holdings in Marqeta by 193.0% during the third quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock worth $12,510,000 after buying an additional 1,554,741 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Marqeta by 272.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock valued at $3,037,000 after acquiring an additional 381,016 shares during the last quarter. Norges Bank acquired a new stake in shares of Marqeta during the 2nd quarter valued at $4,057,000. Citizens Financial Group Inc. RI bought a new stake in shares of Marqeta during the 2nd quarter worth $460,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Marqeta by 2,582.3% during the 3rd quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock worth $3,797,000 after acquiring an additional 692,354 shares in the last quarter. Institutional investors and hedge funds 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.