Capital World Investors Takes Position in Marqeta, Inc. $MQ

Capital World Investors bought a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,129,375 shares of the company’s stock, valued at approximately $29,115,000. Capital World Investors owned about 1.39% of Marqeta at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Marqeta by 51.9% during the third quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock valued at $62,295,000 after purchasing an additional 4,029,486 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Marqeta by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 8,450,737 shares of the company’s stock valued at $44,624,000 after purchasing an additional 130,037 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Marqeta by 7.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,214,458 shares of the company’s stock valued at $43,372,000 after purchasing an additional 587,863 shares during the last quarter. Invesco Ltd. lifted its stake in Marqeta by 3.4% during the third quarter. Invesco Ltd. now owns 6,482,092 shares of the company’s stock valued at $34,225,000 after purchasing an additional 213,244 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Marqeta by 181.2% during the third quarter. Voloridge Investment Management LLC now owns 2,470,202 shares of the company’s stock valued at $13,043,000 after purchasing an additional 1,591,801 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MQ has been the subject of several recent research reports. UBS Group increased their target price on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley cut their target price on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. initiated coverage on shares of Marqeta in a research note on Tuesday, February 17th. They set an “overweight” rating and a $6.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $5.22.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $3.97 on Wednesday. The company has a market cap of $1.68 billion, a PE ratio of 397.40 and a beta of 1.32. Marqeta, Inc. has a 52 week low of $3.70 and a 52 week high of $7.04. The firm has a 50 day simple moving average of $4.08 and a 200 day simple moving average of $4.30.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 EPS for the quarter. The business had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, equities analysts predict that Marqeta, Inc. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Marqeta news, Director Elaine Paul sold 17,452 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $4.47, for a total value of $78,010.44. Following the transaction, the director owned 17,453 shares in the company, valued at approximately $78,014.91. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.61% of the company’s stock.

Marqeta 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.