SG Americas Securities LLC Increases Position in Marqeta, Inc. $MQ

SG Americas Securities LLC grew its position in Marqeta, Inc. (NASDAQ:MQ) by 435.3% during the third quarter, Holdings Channel.com reports. The firm owned 155,765 shares of the company’s stock after acquiring an additional 126,664 shares during the period. SG Americas Securities LLC’s holdings in Marqeta were worth $822,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MQ. State Board of Administration of Florida Retirement System grew its position in shares of Marqeta by 272.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock valued at $3,037,000 after buying an additional 381,016 shares during the last quarter. Norges Bank acquired a new stake in shares of Marqeta during the second quarter worth about $4,057,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Marqeta in the 2nd quarter valued at about $460,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Marqeta in the 2nd quarter valued at about $44,463,000. Finally, Prudential Financial Inc. lifted its stake in Marqeta by 2,245.2% in the second quarter. Prudential Financial Inc. now owns 840,285 shares of the company’s stock valued at $4,899,000 after buying an additional 804,455 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marqeta

In other Marqeta news, Director Jason M. Gardner sold 69,043 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $5.00, for a total value of $345,215.00. Following the transaction, the director owned 293,334 shares of the company’s stock, valued at $1,466,670. This trade represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 218,509 shares of company stock worth $1,092,545. 12.61% of the stock is owned by corporate insiders.

Marqeta Stock Performance

Shares of MQ opened at $4.31 on Wednesday. The company’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $5.28. Marqeta, Inc. has a 1 year low of $3.47 and a 1 year high of $7.04. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -53.88 and a beta of 1.48.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.The business had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. During the same period in the previous year, the company posted ($0.06) EPS. The company’s revenue was up 27.7% compared to the same quarter last year. Equities analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Monday, December 29th. Mizuho reiterated a “neutral” rating and issued a $4.50 target price (down from $8.00) on shares of Marqeta in a research note on Thursday, January 8th. Zacks Research cut Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Wolfe Research cut shares of Marqeta from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Finally, The Goldman Sachs Group set a $5.00 price objective on shares of Marqeta and gave the company a “sell” rating in a research report on Monday, October 13th. One equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $5.50.

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.