Bank of America Corp DE Trims Stake in Marqeta, Inc. (NASDAQ:MQ)

Bank of America Corp DE lessened its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 79.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 314,294 shares of the company's stock after selling 1,205,240 shares during the period. Bank of America Corp DE owned 0.06% of Marqeta worth $1,191,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC raised its position in Marqeta by 226.4% during the third quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after purchasing an additional 597,539 shares in the last quarter. Tallon Kerry Patrick purchased a new position in Marqeta in the 4th quarter worth $98,000. KBC Group NV lifted its stake in Marqeta by 68.8% in the fourth quarter. KBC Group NV now owns 22,546 shares of the company's stock worth $85,000 after purchasing an additional 9,186 shares during the last quarter. Empowered Funds LLC boosted its position in Marqeta by 324.6% during the fourth quarter. Empowered Funds LLC now owns 55,793 shares of the company's stock valued at $211,000 after buying an additional 42,653 shares during the period. Finally, Certuity LLC purchased a new stake in Marqeta during the fourth quarter valued at about $44,000. Institutional investors own 78.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MQ shares. JPMorgan Chase & Co. raised 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. Barclays lifted their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. The Goldman Sachs Group dropped their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their target price 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. Finally, UBS Group increased their price target on shares of Marqeta from $4.75 to $5.00 and gave the company 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $5.18.

Marqeta Stock Performance

MQ stock traded up $0.07 on Tuesday, reaching $5.48. The company's stock had a trading volume of 5,725,447 shares, compared to its average volume of 6,229,408. The business has a fifty day simple moving average of $4.50 and a two-hundred day simple moving average of $4.12. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.00. The firm has a market cap of $2.57 billion, a PE ratio of 274.00 and a beta of 1.53.

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 the consensus estimate 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 analyst estimates of $135.66 million. During the same period in the prior year, the business earned ($0.07) EPS. The company's revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts anticipate 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.