COFG Advisors LLC Invests $709,000 in Marqeta, Inc. $MQ

COFG Advisors LLC acquired a new position in Marqeta, Inc. (NASDAQ:MQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 149,169 shares of the company’s stock, valued at approximately $709,000.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Marqeta during the 3rd quarter valued at $26,000. CWM LLC boosted its position in Marqeta by 82.2% during the 4th quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after buying an additional 2,821 shares during the period. Leonteq Securities AG purchased a new stake in Marqeta during the 4th quarter valued at $33,000. CTC Alternative Strategies Ltd. purchased a new stake in Marqeta during the 3rd quarter valued at $55,000. Finally, AQR Capital Management LLC purchased a new stake in Marqeta during the 1st quarter valued at $57,000. 78.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marqeta

In related news, Director Elaine Paul sold 17,452 shares of Marqeta stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total value of $78,010.44. Following the completion of the sale, the director directly owned 17,453 shares in the company, valued at $78,014.91. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.61% of the company’s stock.

Wall Street Analyst Weigh In

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

Marqeta Stock Performance

Shares of MQ stock opened at $4.35 on Tuesday. Marqeta, Inc. has a one year low of $3.70 and a one year high of $7.04. The company’s 50-day moving average is $4.11 and its 200 day moving average is $4.34. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 435.44 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. The business had revenue of $165.80 million for the quarter, compared to analysts’ expectations of $164.30 million. During the same quarter in the prior year, the business earned ($0.02) EPS. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, research analysts predict that Marqeta, Inc. will post 0.04 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.