Man Group plc trimmed its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 98.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,538 shares of the company's stock after selling 3,739,945 shares during the quarter. Man Group plc's holdings in Marqeta were worth $229,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Marqeta in the fourth quarter valued at approximately $33,000. Blueshift Asset Management LLC acquired a new position in shares of Marqeta in the fourth quarter valued at $38,000. Covestor Ltd grew its stake in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after buying an additional 9,290 shares during the last quarter. Bank of Montreal Can lifted its position in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock worth $38,000 after acquiring an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Marqeta during the 4th quarter worth approximately $41,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.
Marqeta Stock Performance
Shares of NASDAQ:MQ traded up $0.10 during mid-day trading on Thursday, reaching $5.37. 6,597,215 shares of the company's stock were exchanged, compared to its average volume of 6,086,099. The business's fifty day moving average price is $4.30 and its 200-day moving average price is $4.03. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.00. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 268.50 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, beating analysts' consensus estimates of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.
Analyst Ratings Changes
MQ has been the topic of a number of research reports. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $5.00 to $6.00 in a report on Monday, May 19th. The Goldman Sachs Group cut their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. UBS Group increased their target price 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. Barclays lifted their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Marqeta has a consensus rating of "Hold" and an average price target of $5.18.
Check Out Our Latest Stock Analysis on MQ
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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