Insider Selling: Marqeta (NASDAQ:MQ) Director Sells $180,500.00 in Stock

Marqeta, Inc. (NASDAQ:MQ) Director Jason Gardner sold 36,100 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $180,500.00. Following the completion of the transaction, the director directly owned 299,987 shares of the company’s stock, valued at approximately $1,499,935. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $5.07 on Monday. Marqeta, Inc. has a 1-year low of $3.47 and a 1-year high of $7.04. The business’s 50 day moving average is $4.75 and its two-hundred day moving average is $5.42. The stock has a market capitalization of $2.23 billion, a P/E ratio of -63.38 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $163.31 million during the quarter, compared to analysts’ expectations of $148.37 million. Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.The company’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marqeta

A number of hedge funds have recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP bought a new stake in shares of Marqeta during the third quarter valued at approximately $166,000. CTC Alternative Strategies Ltd. purchased a new position in Marqeta during the 3rd quarter worth $55,000. Tudor Investment Corp ET AL raised its position in Marqeta by 1,078.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after purchasing an additional 1,286,258 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in Marqeta by 68.8% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,968 shares of the company’s stock valued at $95,000 after purchasing an additional 7,321 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Marqeta in the 3rd quarter worth $217,000. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. The Goldman Sachs Group set a $5.00 price objective on shares of Marqeta and gave the stock a “sell” rating in a research note on Monday, October 13th. Citigroup raised Marqeta to a “hold” rating in a research note on Thursday, October 23rd. Finally, UBS Group reduced their price target on Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $5.50.

Marqeta Company Profile

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.