Marqeta, Inc. (NASDAQ:MQ) Director Martha Cummings Sells 40,241 Shares

Marqeta, Inc. (NASDAQ:MQ) Director Martha Cummings sold 40,241 shares of Marqeta stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction of $220,118.27. Following the sale, the director now owns 19,000 shares of the company’s stock, valued at $103,930. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Marqeta Price Performance

Shares of MQ opened at $5.39 on Friday. Marqeta, Inc. has a 12-month low of $4.62 and a 12-month high of $7.36. The firm has a 50-day moving average price of $5.43 and a 200 day moving average price of $5.94.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The firm had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Marqeta’s quarterly revenue was down 45.8% on a year-over-year basis. On average, sell-side analysts anticipate that Marqeta, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MQ. Barclays decreased their price objective on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Mizuho decreased their target price on shares of Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. William Blair reiterated an “outperform” rating on shares of Marqeta in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods boosted their target price on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Finally, Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MQ. Norges Bank acquired a new stake in shares of Marqeta during the fourth quarter worth about $27,739,000. Alkeon Capital Management LLC lifted its position in shares of Marqeta by 94.2% during the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after purchasing an additional 2,500,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Marqeta by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock worth $44,015,000 after purchasing an additional 900,675 shares in the last quarter. One Fin Capital Management LP lifted its position in shares of Marqeta by 10.0% during the fourth quarter. One Fin Capital Management LP now owns 2,200,000 shares of the company’s stock worth $15,356,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Gillson Capital LP acquired a new stake in Marqeta in the fourth quarter valued at approximately $8,254,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.