Envestnet Asset Management Inc. trimmed its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 81.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,247 shares of the company's stock after selling 97,464 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Marqeta were worth $84,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MQ. Wells Fargo & Company MN boosted its stake in Marqeta by 45.4% in the 4th quarter. Wells Fargo & Company MN now owns 236,696 shares of the company's stock worth $897,000 after purchasing an additional 73,851 shares during the period. RPO LLC bought a new position in Marqeta in the 4th quarter worth approximately $58,000. ExodusPoint Capital Management LP boosted its stake in Marqeta by 299.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 561,921 shares of the company's stock worth $2,130,000 after purchasing an additional 421,147 shares during the period. Headlands Technologies LLC bought a new position in Marqeta in the 4th quarter worth approximately $33,000. Finally, Geode Capital Management LLC boosted its stake in Marqeta by 3.0% in 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. 78.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on MQ. Barclays increased their target price on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday. 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 report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research report on Thursday. UBS Group increased their target price on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, The Goldman Sachs Group lowered their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $5.09.
Read Our Latest Research Report on Marqeta
Marqeta Stock Performance
MQ stock traded up $0.05 during midday trading on Monday, reaching $4.65. The company's stock had a trading volume of 8,982,807 shares, compared to its average volume of 5,838,796. The stock has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $4.00. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.01. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 232.50 and a beta of 1.41.
Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The business's revenue was up 17.9% compared to the same quarter last year. As a group, analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.
About Marqeta
(
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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