Bank of America Corp DE lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 79.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,294 shares of the company's stock after selling 1,205,240 shares during the quarter. Bank of America Corp DE owned about 0.06% of Marqeta worth $1,191,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta in the fourth quarter valued at $72,879,000. Price T Rowe Associates Inc. MD grew its holdings in Marqeta by 5,396.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the period. Wellington Management Group LLP purchased a new stake in Marqeta during the fourth quarter valued at about $19,717,000. North Reef Capital Management LP grew its holdings in shares of Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after purchasing an additional 3,886,999 shares during the period. Finally, Norges Bank purchased a new stake in Marqeta during the 4th quarter worth $8,052,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on MQ shares. Keefe, Bruyette & Woods increased their price target on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut 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. UBS Group lifted their price target on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Finally, Barclays boosted their price objective on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. 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, Marqeta presently has an average rating of "Hold" and an average price target of $5.18.
Check Out Our Latest Stock Analysis on Marqeta
Marqeta Stock Performance
NASDAQ:MQ traded down $0.03 during mid-day trading on Friday, hitting $5.47. The company had a trading volume of 6,391,165 shares, compared to its average volume of 6,196,910. The firm has a market cap of $2.56 billion, a P/E ratio of 273.50 and a beta of 1.53. The business's fifty day moving average is $4.45 and its two-hundred day moving average is $4.10. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.00.
Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $135.66 million. During the same period last year, the business posted ($0.07) earnings per share. The firm's quarterly revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current year.
Marqeta Company 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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