Insider Buying: Marqeta, Inc. (NASDAQ:MQ) Director Buys 44,650 Shares of Stock

Marqeta, Inc. (NASDAQ:MQ – Get Rating) Director Judson C. Linville purchased 44,650 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $4.46 per share, with a total value of $199,139.00. Following the purchase, the director now directly owns 44,650 shares of the company’s stock, valued at approximately $199,139. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Marqeta Stock Up 1.4 %

NASDAQ MQ opened at $4.48 on Friday. The firm’s fifty day simple moving average is $4.20 and its two-hundred day simple moving average is $5.57. Marqeta, Inc. has a 12-month low of $3.46 and a 12-month high of $12.06.

Marqeta (NASDAQ:MQ – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Marqeta had a negative return on equity of 12.97% and a negative net margin of 24.14%. The firm had revenue of $217.40 million during the quarter, compared to analysts’ expectations of $211.79 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. Marqeta’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, analysts predict that Marqeta, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marqeta

Several institutional investors and hedge funds have recently made changes to their positions in MQ. GPS Wealth Strategies Group LLC acquired a new stake in shares of Marqeta during the first quarter worth $27,000. Amundi acquired a new stake in shares of Marqeta during the fourth quarter worth $27,000. TFC Financial Management Inc. acquired a new stake in shares of Marqeta during the fourth quarter worth $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Marqeta during the first quarter worth $38,000. Finally, Forum Financial Management LP acquired a new stake in shares of Marqeta during the first quarter worth $48,000. 61.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on MQ shares. Barclays decreased their price target on shares of Marqeta from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. Citigroup decreased their price target on shares of Marqeta from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Tuesday, April 11th. Wolfe Research raised shares of Marqeta from a “peer perform” rating to an “outperform” rating and set a $5.50 price objective on the stock in a report on Monday, March 27th. Finally, DA Davidson cut their price objective on shares of Marqeta from $7.25 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Marqeta currently has a consensus rating of “Hold” and an average target price of $7.15.

About Marqeta

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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.