Marqeta (NASDAQ:MQ) Director Jason Gardner Sells 36,100 Shares

by · The Cerbat Gem

Marqeta, Inc. (NASDAQ:MQ – Get Free Report) Director Jason Gardner sold 36,100 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $5.00, for a total transaction of $180,500.00. Following the completion of the sale, the director directly owned 299,987 shares in the company, valued at approximately $1,499,935. This represents a 10.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marqeta Stock Performance

Marqeta stock traded up $0.10 during mid-day trading on Friday, reaching $5.07. The company’s stock had a trading volume of 7,886,338 shares, compared to its average volume of 5,772,471. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04. The business’s 50 day simple moving average is $4.75 and its 200 day simple moving average is $5.42. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -63.38 and a beta of 1.48.

Marqeta (NASDAQ:MQ – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $163.31 million during the quarter, compared to the consensus estimate of $148.37 million. Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The company’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. As a group, sell-side analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Trading of Marqeta

Several institutional investors have recently added to or reduced their stakes in MQ. Quarry LP bought a new position in Marqeta during the 3rd quarter worth $26,000. Nisa Investment Advisors LLC grew its stake in shares of Marqeta by 61.8% in the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after acquiring an additional 3,737 shares in the last quarter. Alpine Global Management LLC bought a new position in Marqeta during the first quarter worth about $42,000. CTC Alternative Strategies Ltd. acquired a new stake in Marqeta in the 3rd quarter worth about $55,000. Finally, Abel Hall LLC bought a new stake in Marqeta in the 2nd quarter valued at about $61,000. 78.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Monday. The Goldman Sachs Group set a $5.00 target price on shares of Marqeta and gave the company a “sell” rating in a research note on Monday, October 13th. Citigroup raised Marqeta to a “hold” rating in a research report on Thursday, October 23rd. Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, UBS Group decreased their price objective on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, seven 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 presently has a consensus rating of “Reduce” and a consensus target price of $5.50.

Read Our Latest Stock Analysis on Marqeta

About Marqeta

(Get Free Report)

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.

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