Bayesian Capital Management LP Lowers Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Bayesian Capital Management LP lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 8.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,500 shares of the company’s stock after selling 13,900 shares during the period. Bayesian Capital Management LP’s holdings in Marqeta were worth $867,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Covestor Ltd grew its holdings in Marqeta by 17,340.0% during the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after acquiring an additional 4,335 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares in the last quarter. Empowered Funds LLC purchased a new position in Marqeta during the first quarter valued at approximately $65,000. SVB Wealth LLC purchased a new position in Marqeta during the fourth quarter valued at approximately $70,000. Finally, CreativeOne Wealth LLC bought a new position in Marqeta in the first quarter worth approximately $72,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insiders Place Their Bets

In other news, Director Martha Cummings sold 40,241 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at approximately $103,930. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MQ. Barclays dropped their target price on Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a research note on Wednesday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research report on Monday, June 24th. Monness Crespi & Hardt lifted their price objective on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.13.

Marqeta Stock Up 2.8 %

Marqeta stock traded up $0.15 during trading hours on Tuesday, hitting $5.47. 4,336,709 shares of the stock traded hands, compared to its average volume of 4,928,546. Marqeta, Inc. has a 1 year low of $4.86 and a 1 year high of $7.36. The firm’s 50 day moving average price is $5.35 and its 200-day moving average price is $5.74.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The business had revenue of $117.90 million for the quarter, compared to the consensus estimate of $117.05 million. During the same period in the prior year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. Equities analysts anticipate that Marqeta, Inc. will post 0.01 EPS for the current year.

About Marqeta

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.