Nisa Investment Advisors LLC Decreases Position in Marqeta, Inc. (NASDAQ:MQ)

Nisa Investment Advisors LLC decreased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 29.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,406 shares of the company’s stock after selling 4,683 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Marqeta were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares in the last quarter. Norges Bank bought a new position in shares of Marqeta during the fourth quarter valued at $27,739,000. Dimensional Fund Advisors LP boosted its position in shares of Marqeta by 16.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock valued at $44,015,000 after buying an additional 900,675 shares during the last quarter. One Fin Capital Management LP increased its holdings in Marqeta by 10.0% in the 4th quarter. One Fin Capital Management LP now owns 2,200,000 shares of the company’s stock worth $15,356,000 after buying an additional 200,000 shares in the last quarter. Finally, Gillson Capital LP purchased a new position in Marqeta in the 4th quarter worth about $8,254,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Up 1.7 %

Marqeta stock opened at $5.34 on Monday. Marqeta, Inc. has a 12-month low of $4.40 and a 12-month high of $7.36. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -14.83 and a beta of 1.78. The firm has a 50 day moving average of $5.31 and a 200 day moving average of $5.63.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The company’s revenue was down 45.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, analysts predict that Marqeta, Inc. will post 0.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Martha Cummings sold 40,241 shares of the stock in a transaction dated 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 sale, the director now owns 19,000 shares in the company, valued at $103,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MQ shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $5.50 price target on shares of Marqeta in a report on Monday, June 24th. Susquehanna restated a “positive” rating and issued a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. William Blair reiterated an “outperform” rating on shares of Marqeta in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods dropped their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Finally, 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. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.11.

Marqeta 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.