Insider Selling: Marqeta (NASDAQ:MQ) CRO Sells $316,500.00 in Stock

Marqeta, Inc. (NASDAQ:MQ) CRO Todd Pollak sold 18,750 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $16.88, for a total transaction of $316,500.00. Following the completion of the sale, the executive directly owned 185,008 shares of the company’s stock, valued at $3,122,935.04. This represents a 9.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Stock Performance

Shares of MQ opened at $17.41 on Friday. Marqeta, Inc. has a 12 month low of $14.80 and a 12 month high of $28.16. The firm’s 50 day moving average is $16.14 and its 200-day moving average is $16.82. The stock has a market capitalization of $1.85 billion, a PE ratio of 435.36 and a beta of 1.31.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $165.80 million during the quarter, compared to analysts’ expectations of $164.30 million. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. Equities research analysts predict that Marqeta, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MQ has been the topic of several analyst reports. UBS Group increased their price target on shares of Marqeta from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Marqeta from $4.50 to $18.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. One research 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, Marqeta has an average rating of “Reduce” and a consensus price target of $20.12.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MQ. Quarry LP acquired a new stake in Marqeta during the 3rd quarter worth approximately $26,000. EFG International AG acquired a new position in Marqeta in the 4th quarter valued at approximately $27,000. CWM LLC raised its stake in shares of Marqeta by 82.2% during the fourth quarter. CWM LLC now owns 6,254 shares of the company’s stock valued at $30,000 after acquiring an additional 2,821 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Marqeta during the first quarter valued at $27,000. Finally, Leonteq Securities AG acquired a new position in shares of Marqeta during the fourth quarter worth $33,000. Institutional investors own 78.64% of the company’s stock.

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.