Todd Pollak Sells 18,750 Shares of Marqeta (NASDAQ:MQ) Stock

Marqeta, Inc. (NASDAQ:MQ) CRO Todd Pollak sold 18,750 shares of Marqeta stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.88, for a total transaction of $316,500.00. Following the transaction, the executive owned 185,008 shares in the company, valued at approximately $3,122,935.04. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marqeta Price Performance

MQ opened at $17.41 on Friday. The stock has a fifty day moving average of $16.14 and a 200-day moving average of $16.82. The firm has a market capitalization of $1.85 billion, a P/E ratio of 435.36 and a beta of 1.31. Marqeta, Inc. has a 12-month low of $14.80 and a 12-month high of $28.16.

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

Analyst Ratings Changes

Several equities analysts have weighed in on MQ shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Marqeta from $4.50 to $18.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of Marqeta from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $20.12.

Institutional Trading of Marqeta

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Marqeta by 18.0% in the fourth quarter. Wellington Management Group LLP now owns 13,927,760 shares of the company’s stock valued at $66,157,000 after purchasing an additional 2,129,486 shares in the last quarter. Renaissance Technologies LLC increased its position in Marqeta by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 11,580,288 shares of the company’s stock worth $47,248,000 after purchasing an additional 237,933 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Marqeta by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,779,290 shares of the company’s stock worth $35,818,000 after purchasing an additional 567,673 shares in the last quarter. Invesco Ltd. raised its stake in shares of Marqeta by 26.8% during the 4th quarter. Invesco Ltd. now owns 8,218,888 shares of the company’s stock worth $39,040,000 after purchasing an additional 1,736,796 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Marqeta by 7.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,214,458 shares of the company’s stock valued at $43,372,000 after buying an additional 587,863 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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.