Baader Bank Aktiengesellschaft Buys 60,000 Shares of Marqeta, Inc. (NASDAQ:MQ)

Baader Bank Aktiengesellschaft grew its stake in Marqeta, Inc. (NASDAQ:MQ) by 100.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,000 shares of the company’s stock after purchasing an additional 60,000 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Marqeta were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital International Investors lifted its stake in shares of Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after acquiring an additional 4,609,526 shares during the last quarter. Norges Bank bought a new stake in shares of Marqeta during the fourth quarter worth about $27,739,000. Vanguard Group Inc. increased its stake in shares of Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after buying an additional 1,642,621 shares during the period. Westfield Capital Management Co. LP raised its holdings in Marqeta by 27.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after buying an additional 1,604,223 shares during the last quarter. Finally, Gillson Capital LP acquired a new stake in Marqeta during the 4th quarter worth approximately $8,254,000. 78.64% of the stock is owned by institutional investors.

Marqeta Stock Up 4.6 %

MQ stock traded up $0.24 during midday trading on Thursday, reaching $5.43. 4,259,631 shares of the company’s stock traded hands, compared to its average volume of 4,991,938. The firm’s fifty day moving average price is $5.30 and its 200-day moving average price is $5.66. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -14.42 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The business had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $121.87 million. During the same quarter last year, the firm earned ($0.07) EPS. The firm’s revenue for the quarter was down 45.8% compared to the same quarter last year. Analysts forecast that Marqeta, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MQ. Barclays dropped their price target on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of Marqeta in a report on Wednesday, May 8th. Wells Fargo & Company upgraded Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their target price on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.90.

Insider Activity at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the transaction, the director now owns 19,000 shares in the company, valued at approximately $103,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.12% of the stock is owned by insiders.

Marqeta Company Profile

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.