Marqeta, Inc. $MQ Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 603.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,095,787 shares of the company’s stock after purchasing an additional 940,022 shares during the quarter. SG Americas Securities LLC’s holdings in Marqeta were worth $5,205,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in shares of Marqeta by 193.0% in the third quarter. Nordea Investment Management AB now owns 2,360,309 shares of the company’s stock valued at $12,510,000 after acquiring an additional 1,554,741 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Marqeta by 272.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock worth $3,037,000 after purchasing an additional 381,016 shares in the last quarter. Principal Financial Group Inc. lifted its position in Marqeta by 2,582.3% in the third quarter. Principal Financial Group Inc. now owns 719,166 shares of the company’s stock valued at $3,797,000 after purchasing an additional 692,354 shares during the period. Norges Bank acquired a new stake in Marqeta in the second quarter valued at about $4,057,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Marqeta in the 2nd quarter valued at approximately $44,463,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on MQ. Wolfe Research cut Marqeta from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. started coverage on Marqeta in a research note on Tuesday, February 17th. They issued an “overweight” rating and a $6.00 price target on the stock. UBS Group dropped their price objective on Marqeta from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley cut their price objective on Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Finally, Mizuho reissued a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a report on Thursday, January 8th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.14.

Marqeta Trading Down 3.7%

Shares of MQ opened at $3.93 on Thursday. Marqeta, Inc. has a twelve month low of $3.47 and a twelve month high of $7.04. The firm has a market capitalization of $1.68 billion, a P/E ratio of -131.00 and a beta of 1.39. The firm’s 50-day moving average is $4.09 and its two-hundred day moving average is $4.60.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.01. The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $167.05 million. Marqeta had a negative net margin of 2.23% and a negative return on equity of 1.62%. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. Analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Judson C. Linville acquired 25,570 shares of Marqeta stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $3.93 per share, with a total value of $100,490.10. Following the completion of the acquisition, the director owned 104,220 shares in the company, valued at $409,584.60. This trade represents a 32.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.61% of the stock is owned by insiders.

About Marqeta

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.