Arnhold LLC Invests $6.95 Million in Marqeta, Inc. (NASDAQ:MQ)

Arnhold LLC purchased a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,833,912 shares of the company's stock, valued at approximately $6,951,000. Arnhold LLC owned approximately 0.37% of Marqeta as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MQ. Barclays PLC lifted its holdings in shares of Marqeta by 226.4% during the third quarter. Barclays PLC now owns 861,414 shares of the company's stock worth $4,238,000 after purchasing an additional 597,539 shares during the period. JPMorgan Chase & Co. lifted its holdings in Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after acquiring an additional 956,992 shares during the period. Nordea Investment Management AB lifted its holdings in Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock valued at $3,265,000 after acquiring an additional 441,617 shares during the period. Tallon Kerry Patrick acquired a new position in Marqeta in the fourth quarter valued at approximately $98,000. Finally, apricus wealth LLC acquired a new position in Marqeta in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

MQ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price target on Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a report on Monday, January 6th. The Goldman Sachs Group decreased their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.29.

Marqeta Price Performance

NASDAQ MQ traded up $0.01 during mid-day trading on Wednesday, hitting $4.13. The stock had a trading volume of 1,841,558 shares, compared to its average volume of 5,684,557. The firm's 50 day moving average is $4.03 and its 200 day moving average is $4.07. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.01. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 206.50 and a beta of 1.42.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. As a group, equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

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.