Marqeta, Inc. $MQ Shares Purchased by Optimus Prime Fund Management Co. Ltd.

Optimus Prime Fund Management Co. Ltd. increased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 34.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,000,000 shares of the company’s stock after buying an additional 255,000 shares during the period. Marqeta comprises 0.4% of Optimus Prime Fund Management Co. Ltd.’s investment portfolio, making the stock its 20th largest holding. Optimus Prime Fund Management Co. Ltd. owned approximately 0.23% of Marqeta worth $4,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL raised its stake in shares of Marqeta by 1,078.8% in the third quarter. Tudor Investment Corp ET AL now owns 1,405,491 shares of the company’s stock valued at $7,421,000 after acquiring an additional 1,286,258 shares in the last quarter. Abbington Investment Group acquired a new position in Marqeta during the 4th quarter worth $1,939,000. SG Americas Securities LLC increased its holdings in Marqeta by 603.5% during the 4th quarter. SG Americas Securities LLC now owns 1,095,787 shares of the company’s stock worth $5,205,000 after purchasing an additional 940,022 shares during the period. Donor Advised Charitable Giving Inc. purchased a new stake in Marqeta during the 4th quarter worth about $1,257,000. Finally, JPMorgan Chase & Co. raised its position in Marqeta by 271.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,335,320 shares of the company’s stock valued at $7,050,000 after purchasing an additional 975,861 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

Marqeta stock opened at $3.89 on Wednesday. The business has a 50 day simple moving average of $4.07 and a 200-day simple moving average of $4.27. Marqeta, Inc. has a 12 month low of $3.70 and a 12 month high of $7.04. The stock has a market capitalization of $1.65 billion, a PE ratio of 389.39 and a beta of 1.32.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $165.80 million for the quarter, compared to analyst estimates of $164.30 million. Marqeta had a net margin of 0.33% and a return on equity of 0.27%. Marqeta’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm posted ($0.02) EPS. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Marqeta news, Director Elaine Paul sold 18,148 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $3.80, for a total transaction of $68,962.40. Following the transaction, the director owned 35,602 shares in the company, valued at approximately $135,287.60. The trade was a 33.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 12.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MQ. JPMorgan Chase & Co. assumed coverage on Marqeta in a research report on Tuesday, February 17th. They set an “overweight” rating and a $6.00 price objective for the company. UBS Group raised their target price on shares of Marqeta from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley decreased their price target on shares of Marqeta from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Marqeta in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $5.22.

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.