Visa Foundation Acquires New Shares in Marqeta, Inc. (NASDAQ:MQ)

Visa Foundation acquired 12,444,690 shares in Marqeta, Inc. (NASDAQ:MQ) during Q2, valued at approximately $197 million, making it 29.1% of its portfolio. Several institutional investors increased their stakes as well. Marqeta's stock is down 1.0%, with a market cap of $2.62 billion and a negative net margin of 2.62%. Despite beating analysts' EPS expectations, revenue fell 45.8% year-over-year. Analyst ratings show a 'Moderate Buy' consensus with an average target price of $11. 12.12% of shares are owned by insiders.

Visa Foundation acquired a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,444,690 shares of the company's stock, valued at approximately $68,197,000. Marqeta makes up approximately 29.1% of Visa Foundation's portfolio, making the stock its 2nd biggest position. Visa Foundation owned 2.40% of Marqeta as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management bought a new stake in shares of Marqeta in the second quarter valued at about $159,000. Commonwealth Equity Services LLC grew its stake in Marqeta by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 460,361 shares of the company's stock valued at $2,523,000 after purchasing an additional 25,012 shares during the last quarter. Principal Financial Group Inc. grew its stake in Marqeta by 9.9% in the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company's stock valued at $332,000 after purchasing an additional 5,481 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Marqeta by 65.6% in the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company's stock valued at $14,362,000 after purchasing an additional 1,038,577 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its stake in Marqeta by 10.0% in the second quarter. ZWJ Investment Counsel Inc. now owns 1,989,142 shares of the company's stock valued at $10,901,000 after purchasing an additional 180,075 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Down 1.0 %

Shares of NASDAQ MQ opened at $5.06 on Wednesday. The business's 50 day moving average price is $5.32 and its 200 day moving average price is $5.59. The firm has a market cap of $2.62 billion, a P/E ratio of -14.19 and a beta of 1.78. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $125.30 million during the quarter, compared to the consensus estimate of $121.87 million. During the same period in the previous year, the company posted ($0.07) earnings per share. Marqeta's revenue for the quarter was down 45.8% on a year-over-year basis. As a group, research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Insider Buying and Selling at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of the company'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 transaction of $220,118.27. Following the completion of the transaction, the director now directly owns 19,000 shares of the company's stock, valued at approximately $103,930. The sale was disclosed in a filing with the SEC, which is available at this link. 12.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on MQ. William Blair reiterated an "outperform" rating on shares of Marqeta in a research note on Wednesday, May 8th. Barclays dropped their price target on Marqeta from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. dropped their price target on Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Mizuho dropped their price target on Marqeta from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, May 21st. Finally, Wedbush restated a "neutral" rating and set a $6.00 price target on shares of Marqeta in a research note on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $7.11.

View Our Latest Analysis on Marqeta

Marqeta Company Profile

(Free Report)

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.

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