Quantbot Technologies LP Makes New $1.11 Million Investment in Marqeta, Inc. $MQ

Quantbot Technologies LP purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 210,184 shares of the company’s stock, valued at approximately $1,110,000.

A number of other hedge funds also recently made changes to their positions in MQ. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Marqeta during the 2nd quarter valued at about $44,463,000. Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 1,754,539 shares during the period. Nordea Investment Management AB boosted its holdings in Marqeta by 193.0% during the third quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after purchasing an additional 1,554,741 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Marqeta by 271.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,335,320 shares of the company’s stock valued at $7,050,000 after purchasing an additional 975,861 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Marqeta by 2,245.2% in the 2nd quarter. Prudential Financial Inc. now owns 840,285 shares of the company’s stock worth $4,899,000 after buying an additional 804,455 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Activity

In other Marqeta news, Director Judson C. Linville bought 25,570 shares of the business’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $3.93 per share, for a total transaction of $100,490.10. Following the transaction, the director owned 104,220 shares in the company, valued at approximately $409,584.60. This trade represents a 32.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason M. Gardner sold 113,366 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $5.00, for a total transaction of $566,830.00. Following the completion of the transaction, the director directly owned 303,467 shares in the company, valued at $1,517,335. This trade represents a 27.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 218,509 shares of company stock worth $1,092,545. 12.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

MQ has been the topic of several recent analyst reports. Zacks Research lowered Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Morgan Stanley reduced their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a report on Monday, December 29th. Wolfe Research cut shares of Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Marqeta from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Friday, January 2nd. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.14.

Marqeta Price Performance

MQ stock opened at $4.02 on Friday. The company has a 50 day moving average price of $4.31 and a 200 day moving average price of $4.87. Marqeta, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $7.04. The stock has a market capitalization of $1.72 billion, a PE ratio of -134.00 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $172.11 million for the quarter, compared to analyst estimates of $167.05 million. Marqeta had a negative return on equity of 1.62% and a negative net margin of 2.23%.The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. As a group, equities analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.