Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Credit Suisse AG

Credit Suisse AG trimmed its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 18.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 369,367 shares of the company’s stock after selling 82,792 shares during the period. Credit Suisse AG owned about 0.07% of Marqeta worth $1,688,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Raymond James & Associates boosted its position in shares of Marqeta by 19.6% in the 1st quarter. Raymond James & Associates now owns 26,799 shares of the company’s stock worth $296,000 after buying an additional 4,389 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Marqeta in the first quarter valued at approximately $201,000. Citigroup Inc. raised its position in shares of Marqeta by 83.2% during the 1st quarter. Citigroup Inc. now owns 42,073 shares of the company’s stock worth $464,000 after purchasing an additional 19,112 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Marqeta in the 1st quarter valued at approximately $813,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Marqeta during the 1st quarter valued at $800,000. Hedge funds and other institutional investors own 58.10% of the company’s stock.

Marqeta Stock Up 1.3 %

Marqeta stock opened at $6.34 on Wednesday. The firm has a market capitalization of $3.36 billion, a P/E ratio of -16.26 and a beta of 1.77. The firm has a fifty day moving average of $5.41 and a 200-day moving average of $4.86. Marqeta, Inc. has a 52-week low of $3.46 and a 52-week high of $8.63.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Marqeta had a negative return on equity of 12.92% and a negative net margin of 24.54%. The company had revenue of $231.12 million for the quarter, compared to analyst estimates of $220.90 million. On average, research analysts expect that Marqeta, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Marqeta from $7.00 to $9.00 in a research report on Thursday, August 10th. BTIG Research downgraded shares of Marqeta from a “neutral” rating to a “sell” rating and set a $4.00 price target for the company. in a report on Wednesday, August 16th. Bank of America began coverage on shares of Marqeta in a research report on Thursday, June 1st. They set a “neutral” rating and a $5.00 target price on the stock. Barclays boosted their price target on Marqeta from $6.00 to $7.00 and gave the company an “overweight” rating in a report on Monday, August 14th. Finally, Berenberg Bank upgraded Marqeta from a “hold” rating to a “buy” rating and raised their price objective for the stock from $5.00 to $8.00 in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.76.

Insider Buying and Selling

In other news, Director Judson C. Linville bought 34,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average cost of $5.86 per share, for a total transaction of $199,240.00. Following the completion of the purchase, the director now owns 78,650 shares of the company’s stock, valued at $460,889. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Marqeta news, Director Judson C. Linville purchased 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were acquired at an average price of $5.86 per share, for a total transaction of $199,240.00. Following the completion of the purchase, the director now owns 78,650 shares in the company, valued at approximately $460,889. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Martha Cummings sold 21,371 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $5.16, for a total value of $110,274.36. The disclosure for this sale can be found here. 10.88% of the stock is currently owned by corporate insiders.

Marqeta Profile

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, financial technology, embedded finance solutions, and large financial institution.