Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 34.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,945 shares of the company’s stock after selling 11,393 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Marqeta were worth $131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Marqeta by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the period. Sanders Morris Harris LLC purchased a new position in Marqeta in the first quarter valued at $328,000. Renaissance Capital LLC boosted its holdings in Marqeta by 1.2% in the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock valued at $1,834,000 after purchasing an additional 3,523 shares during the period. Vanguard Group Inc. boosted its holdings in Marqeta by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 45,793,157 shares of the company’s stock valued at $319,636,000 after purchasing an additional 1,592,977 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Marqeta during the 4th quarter worth about $194,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MQ has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Barclays decreased their price target on Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Tuesday, June 25th. Wedbush reiterated a “neutral” rating and set a $6.00 target price on shares of Marqeta in a research report on Wednesday, May 8th. Finally, Mizuho cut their target price on Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Marqeta Stock Performance

Shares of MQ stock opened at $5.54 on Thursday. Marqeta, Inc. has a 52-week low of $4.65 and a 52-week high of $7.36. The stock’s 50-day moving average price is $5.44 and its 200 day moving average price is $5.92.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $117.05 million. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The firm’s revenue for the quarter was down 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.01 EPS for the current year.

Insider Transactions at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total transaction of $220,118.27. Following the completion of the transaction, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $103,930. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.12% of the company’s stock.

Marqeta 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.