Truist Financial Corp Has $167,000 Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Truist Financial Corp raised its holdings in Marqeta, Inc. (NASDAQ:MQGet Rating) by 11.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,192 shares of the company’s stock after purchasing an additional 1,566 shares during the period. Truist Financial Corp’s holdings in Marqeta were worth $167,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bronson Point Management LLC bought a new stake in shares of Marqeta during the 4th quarter worth approximately $52,000. CWM LLC bought a new stake in shares of Marqeta during the 4th quarter worth approximately $54,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Marqeta during the 4th quarter worth approximately $83,000. North Star Investment Management Corp. bought a new stake in shares of Marqeta during the 4th quarter worth approximately $105,000. Finally, Tortoise Index Solutions LLC bought a new stake in shares of Marqeta during the 4th quarter worth approximately $128,000. Institutional investors own 50.31% of the company’s stock.

Marqeta Stock Up 0.4 %

Shares of NASDAQ MQ opened at $9.59 on Monday. The firm has a market cap of $5.21 billion and a PE ratio of -17.44. Marqeta, Inc. has a 12-month low of $6.05 and a 12-month high of $37.90. The company’s fifty day simple moving average is $9.47 and its 200 day simple moving average is $10.16.

Marqeta (NASDAQ:MQGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $166.10 million for the quarter, compared to the consensus estimate of $161.01 million. Marqeta had a negative return on equity of 13.49% and a negative net margin of 36.80%. On average, equities analysts predict that Marqeta, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $9.50, for a total value of $950,000.00. Following the transaction, the insider now directly owns 6,157 shares of the company’s stock, valued at $58,491.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

MQ has been the subject of several research reports. Credit Suisse Group initiated coverage on shares of Marqeta in a research note on Tuesday, May 3rd. They issued an “outperform” rating and a $13.50 price objective for the company. Piper Sandler initiated coverage on shares of Marqeta in a research note on Thursday, April 14th. They issued an “overweight” rating and a $13.00 price objective for the company. KeyCorp dropped their price objective on shares of Marqeta from $15.00 to $10.00 in a research note on Thursday, May 12th. Wells Fargo & Company initiated coverage on shares of Marqeta in a research note on Monday, April 4th. They issued an “overweight” rating and a $15.00 price objective for the company. Finally, UBS Group initiated coverage on shares of Marqeta in a research note on Tuesday, June 7th. They issued a “buy” rating and a $14.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.03.

Marqeta Profile

(Get Rating)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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Institutional Ownership by Quarter for Marqeta (NASDAQ:MQ)

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