Marqeta (NASDAQ:MQ) Director Judson Linville Buys 25,570 Shares

Marqeta, Inc. (NASDAQ:MQ) Director Judson Linville purchased 25,570 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average price of $3.93 per share, with a total value of $100,490.10. Following the transaction, the director owned 104,220 shares of the company’s stock, valued at $409,584.60. This represents a 32.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Marqeta Price Performance

Shares of MQ stock opened at $3.89 on Tuesday. The company has a market cap of $1.71 billion, a PE ratio of -129.67 and a beta of 1.48. Marqeta, Inc. has a 1 year low of $3.47 and a 1 year high of $7.04. The stock’s 50 day simple moving average is $4.37 and its two-hundred day simple moving average is $4.91.

Marqeta (NASDAQ:MQ) last released its earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.01. The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $167.05 million. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities research analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Marqeta

Several hedge funds have recently made changes to their positions in MQ. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Marqeta in the 2nd quarter worth $44,463,000. Capital World Investors acquired a new position in Marqeta during the 4th quarter valued at about $29,115,000. Wellington Management Group LLP raised its stake in Marqeta by 51.9% in the third quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock valued at $62,295,000 after buying an additional 4,029,486 shares during the last quarter. Marshall Wace LLP boosted its holdings in Marqeta by 694.3% in the third quarter. Marshall Wace LLP now owns 2,338,737 shares of the company’s stock worth $12,349,000 after acquiring an additional 2,044,290 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Marqeta by 1,224.5% during the second quarter. Russell Investments Group Ltd. now owns 1,897,823 shares of the company’s stock worth $11,064,000 after acquiring an additional 1,754,539 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MQ has been the subject of a number of recent analyst reports. Mizuho reaffirmed a “neutral” rating and set a $4.50 price target (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. JPMorgan Chase & Co. initiated coverage on Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price on the stock. Morgan Stanley decreased their price target on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Finally, Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $5.14.

About Marqeta

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.