54,169 Shares in Marqeta, Inc. (NASDAQ:MQ) Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. purchased a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,169 shares of the company's stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. raised its holdings in shares of Marqeta by 7.6% in the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after acquiring an additional 80,161 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Marqeta in the fourth quarter valued at about $288,000. Xponance Inc. raised its stake in shares of Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after purchasing an additional 3,546 shares during the period. Northern Trust Corp increased its stake in Marqeta by 3.9% during the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock worth $16,305,000 after buying an additional 161,968 shares during the period. Finally, Mission Creek Capital Partners Inc. purchased a new stake in shares of Marqeta during the fourth quarter worth about $778,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Analyst Ratings Changes

MQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $5.00 to $6.00 in a research report on Monday, May 19th. Barclays raised their price objective on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, UBS Group increased their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Ten equities research 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 an average price target of $5.18.

Marqeta Stock Down 0.5%

NASDAQ:MQ traded down $0.03 during trading hours on Friday, hitting $5.47. 6,391,165 shares of the stock traded hands, compared to its average volume of 6,196,910. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.00. The stock has a 50 day moving average price of $4.45 and a 200 day moving average price of $4.10. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 273.50 and a beta of 1.53.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. Equities analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

About Marqeta

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.