D. E. Shaw & Co. Inc. Trims Holdings in Marqeta, Inc. (NASDAQ:MQ)

D. E. Shaw & Co. Inc. lessened its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 92.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 27,947 shares of the company's stock after selling 356,504 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Marqeta were worth $106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in MQ. Headlands Technologies LLC bought a new position in shares of Marqeta in the fourth quarter valued at approximately $33,000. Covestor Ltd lifted its holdings in shares of Marqeta by 1,255.4% in the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 9,290 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Marqeta by 125.6% in the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 49,243 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Marqeta in the fourth quarter valued at approximately $38,000. Finally, Stifel Financial Corp bought a new position in shares of Marqeta in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Stock Performance

NASDAQ:MQ traded down $0.14 during trading hours on Monday, reaching $5.24. The stock had a trading volume of 5,810,877 shares, compared to its average volume of 6,125,463. The stock has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $4.06. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.00. The stock has a market cap of $2.45 billion, a P/E ratio of 262.00 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 (EPS) 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 during the quarter, compared to the consensus estimate of $135.66 million. During the same period last year, the business posted ($0.07) earnings per share. The business's revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities 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 research firms have recently weighed in on MQ. JPMorgan Chase & Co. upgraded Marqeta from a "neutral" rating to an "overweight" rating and raised their target price for the company from $5.00 to $6.00 in a report on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a report on Thursday, May 8th. UBS Group lifted their price target on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays lifted their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.18.

Marqeta Company 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.