Commonwealth Equity Services LLC Purchases 406,234 Shares of Marqeta, Inc. (NASDAQ:MQ)

Commonwealth Equity Services LLC raised its position in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 1,350.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 436,306 shares of the company’s stock after purchasing an additional 406,234 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Marqeta were worth $4,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FourThought Financial LLC purchased a new stake in shares of Marqeta during the 1st quarter valued at about $51,000. Bronson Point Management LLC purchased a new stake in shares of Marqeta during the 4th quarter valued at about $52,000. CWM LLC purchased a new stake in shares of Marqeta during the 4th quarter valued at about $54,000. Ahrens Investment Partners LLC boosted its holdings in shares of Marqeta by 536.1% during the 1st quarter. Ahrens Investment Partners LLC now owns 5,725 shares of the company’s stock valued at $63,000 after acquiring an additional 4,825 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Marqeta during the 4th quarter valued at about $83,000. 50.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Seth R. Weissman sold 100,000 shares of Marqeta stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $9.50, for a total transaction of $950,000.00. Following the sale, the insider now owns 6,157 shares in the company, valued at $58,491.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Marqeta in a report on Thursday, April 14th. They set an “overweight” rating and a $13.00 price target on the stock. KeyCorp raised their price target on shares of Marqeta from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Monday. UBS Group assumed coverage on shares of Marqeta in a report on Tuesday, June 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Morgan Stanley raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a report on Tuesday, May 24th. Finally, Mizuho dropped their price objective on shares of Marqeta from $17.00 to $12.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Marqeta has an average rating of “Moderate Buy” and a consensus price target of $16.10.

Marqeta Trading Down 2.2 %

NASDAQ MQ opened at $10.96 on Friday. Marqeta, Inc. has a 12 month low of $6.05 and a 12 month high of $37.90. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -19.93 and a beta of 2.59. The company’s 50 day moving average is $9.53 and its two-hundred day moving average is $10.12.

Marqeta (NASDAQ:MQ – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $166.10 million for the quarter, compared to the consensus estimate of $161.01 million. Marqeta had a negative net margin of 36.80% and a negative return on equity of 13.49%. Sell-side analysts forecast that Marqeta, Inc. will post -0.42 EPS for the current year.

About Marqeta

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.