Mission Creek Capital Partners Inc. Takes $778,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Mission Creek Capital Partners Inc. purchased a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 205,369 shares of the company's stock, valued at approximately $778,000.

Several other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta during the 4th quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD boosted its position in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock worth $68,862,000 after purchasing an additional 17,838,535 shares during the period. Geode Capital Management LLC boosted its position in shares of Marqeta by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock worth $41,819,000 after purchasing an additional 318,184 shares during the period. North Reef Capital Management LP boosted its position in shares of Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after purchasing an additional 3,886,999 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Marqeta by 3.7% during the 4th quarter. Invesco Ltd. now owns 5,385,646 shares of the company's stock worth $20,412,000 after purchasing an additional 193,590 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Stock Performance

NASDAQ MQ traded down $0.09 during trading hours on Thursday, hitting $4.09. The company had a trading volume of 8,208,740 shares, compared to its average volume of 5,716,303. The business has a 50 day moving average of $4.04 and a 200-day moving average of $4.07. The company has a market cap of $2.06 billion, a PE ratio of 204.50 and a beta of 1.42. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.01.

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

Analysts Set New Price Targets

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

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.