Marqeta Target of Unusually High Options Trading (NASDAQ:MQ)

by · The Cerbat Gem

Marqeta, Inc. (NASDAQ:MQ – Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 3,243 call options on the stock. This represents an increase of approximately 238% compared to the average volume of 959 call options.

Institutional Trading of Marqeta

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marqeta by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after purchasing an additional 3,548 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Marqeta by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the last quarter. Covestor Ltd increased its holdings in Marqeta by 17,340.0% during the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after buying an additional 4,335 shares during the last quarter. ProShare Advisors LLC increased its holdings in Marqeta by 6.6% during the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock worth $505,000 after buying an additional 5,257 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MQ has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. UBS Group dropped their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Susquehanna restated a “positive” rating and set a $9.00 price target on shares of Marqeta in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.11.

Get Our Latest Research Report on Marqeta

Marqeta Stock Up 8.3 %

Marqeta stock traded up $0.44 during midday trading on Monday, hitting $5.74. 3,421,483 shares of the stock were exchanged, compared to its average volume of 4,471,328. The company has a fifty day simple moving average of $5.10 and a two-hundred day simple moving average of $5.29. Marqeta has a 52 week low of $4.40 and a 52 week high of $7.36. The stock has a market capitalization of $2.97 billion, a PE ratio of -15.78 and a beta of 1.77.

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

Marqeta Company Profile

(Get 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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