149,169 Shares in Marqeta, Inc. $MQ Acquired by COFG Advisors LLC

COFG Advisors LLC purchased a new position in Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 149,169 shares of the company’s stock, valued at approximately $709,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Marqeta by 51.9% during the 3rd quarter. Wellington Management Group LLP now owns 11,798,274 shares of the company’s stock worth $62,295,000 after purchasing an additional 4,029,486 shares during the period. Dimensional Fund Advisors LP grew its position in Marqeta by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 8,450,737 shares of the company’s stock valued at $44,624,000 after buying an additional 130,037 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Marqeta by 7.7% during the third 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 period. Invesco Ltd. grew its position in Marqeta by 3.4% during the third quarter. Invesco Ltd. now owns 6,482,092 shares of the company’s stock valued at $34,225,000 after buying an additional 213,244 shares during the period. Finally, Voloridge Investment Management LLC grew its position in Marqeta by 181.2% during the third quarter. Voloridge Investment Management LLC now owns 2,470,202 shares of the company’s stock valued at $13,043,000 after buying an additional 1,591,801 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Activity

In related news, Director Elaine Paul sold 17,452 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $4.47, for a total transaction of $78,010.44. Following the completion of the sale, the director directly owned 17,453 shares of the company’s stock, valued at approximately $78,014.91. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.61% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th. UBS Group raised their price target on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Marqeta in a research report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.22.

Marqeta Stock Performance

NASDAQ MQ opened at $4.35 on Tuesday. The business has a fifty day moving average price of $4.11 and a 200 day moving average price of $4.34. Marqeta, Inc. has a one year low of $3.70 and a one year high of $7.04. The company has a market cap of $1.84 billion, a P/E ratio of 435.44 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last issued its earnings results on Tuesday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter. Marqeta had a return on equity of 0.27% and a net margin of 0.33%.The business had revenue of $165.80 million during the quarter, compared to the consensus estimate of $164.30 million. During the same period last year, the company earned ($0.02) EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.04 EPS for the current fiscal year.

Marqeta 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.