D. E. Shaw & Co. Inc. cut its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 92.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.
A number of other hedge funds have also recently bought and sold shares of MQ. Headlands Technologies LLC bought a new stake in Marqeta during the fourth quarter worth $33,000. Covestor Ltd increased its position in shares of Marqeta by 1,255.4% during the 4th quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 9,290 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Marqeta by 125.6% during the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock worth $38,000 after purchasing an additional 49,243 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Marqeta during the 4th quarter worth $38,000. Finally, Stifel Financial Corp purchased a new position in shares of Marqeta in the 4th quarter worth about $41,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MQ has been the subject of a number of research analyst reports. 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 report on Thursday, May 8th. UBS Group raised their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their price target on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Barclays increased their price objective on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. upgraded Marqeta from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.18.
Read Our Latest Research Report on MQ
Marqeta Stock Down 0.9%
Shares of NASDAQ:MQ traded down $0.05 during midday trading on Friday, reaching $5.32. 12,992,385 shares of the company traded hands, compared to its average volume of 6,128,000. The firm's fifty day moving average price is $4.33 and its two-hundred day moving average price is $4.04. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 266.00 and a beta of 1.41. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.00.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $139.07 million for the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. Analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current year.
Marqeta Profile
(
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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