Nordea Investment Management AB Purchases 1,554,741 Shares of Marqeta, Inc. $MQ

Nordea Investment Management AB boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 193.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,360,309 shares of the company’s stock after buying an additional 1,554,741 shares during the period. Nordea Investment Management AB’s holdings in Marqeta were worth $12,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Marqeta during the 2nd quarter valued at about $44,463,000. Russell Investments Group Ltd. raised its stake in Marqeta by 1,224.5% in the second quarter. Russell Investments Group Ltd. now owns 1,897,823 shares of the company’s stock valued at $11,064,000 after purchasing an additional 1,754,539 shares in the last quarter. Prudential Financial Inc. lifted its position in Marqeta by 2,245.2% during the second quarter. Prudential Financial Inc. now owns 840,285 shares of the company’s stock valued at $4,899,000 after purchasing an additional 804,455 shares during the last quarter. Norges Bank purchased a new position in Marqeta in the 2nd quarter worth approximately $4,057,000. Finally, Invesco Ltd. increased its holdings in shares of Marqeta by 8.1% in the 2nd quarter. Invesco Ltd. now owns 6,268,848 shares of the company’s stock worth $36,547,000 after buying an additional 471,631 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Price Performance

Shares of Marqeta stock opened at $4.41 on Friday. Marqeta, Inc. has a one year low of $3.47 and a one year high of $7.04. The business’s 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $5.32. The stock has a market capitalization of $1.94 billion, a P/E ratio of -55.13 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $163.31 million during the quarter, compared to analysts’ expectations of $148.37 million. Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) EPS. Sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Insider Activity at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 113,366 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $5.00, for a total transaction of $566,830.00. Following the transaction, the director directly owned 303,467 shares of the company’s stock, valued at approximately $1,517,335. The trade was a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 218,509 shares of company stock worth $1,092,545 in the last ninety days. 12.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MQ has been the subject of several research reports. Keefe, Bruyette & Woods cut their target price on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Friday, January 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Monday, December 29th. Zacks Research lowered Marqeta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. UBS Group decreased their price objective on Marqeta from $5.75 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, The Goldman Sachs Group set a $5.00 target price on Marqeta and gave the stock a “sell” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Marqeta presently has an average rating of “Reduce” and a consensus target price 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.