Insider Selling: Marqeta (NASDAQ:MQ) Director Sells 18,148 Shares of Stock

Marqeta, Inc. (NASDAQ:MQ) Director Elaine Paul sold 18,148 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $3.80, for a total value of $68,962.40. Following the sale, the director directly owned 35,602 shares of the company’s stock, valued at $135,287.60. This represents a 33.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 value of $78,010.44.

Marqeta Stock Performance

Shares of NASDAQ:MQ remained flat at $3.89 during mid-day trading on Tuesday. The company had a trading volume of 4,706,390 shares, compared to its average volume of 3,972,803. The firm has a market cap of $1.65 billion, a P/E ratio of 389.39 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 business has a 50-day moving average of $4.07 and a 200 day moving average of $4.28.

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

Hedge Funds Weigh In On Marqeta

A number of large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Marqeta in the third quarter worth approximately $26,000. EFG International AG purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $27,000. CWM LLC raised its holdings in shares of Marqeta by 82.2% in the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock worth $30,000 after buying an additional 2,821 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Marqeta in the first quarter worth approximately $27,000. Finally, Leonteq Securities AG purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $33,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. started coverage on Marqeta in a research report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective on the stock. UBS Group upped their price objective on Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Marqeta currently has a consensus rating of “Reduce” and a consensus target price of $5.22.

About Marqeta

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.