Millennium Management LLC Buys 1,901,695 Shares of Marqeta, Inc. (NASDAQ:MQ)

Millennium Management LLC raised its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 110.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,620,476 shares of the company's stock after acquiring an additional 1,901,695 shares during the quarter. Millennium Management LLC owned approximately 0.72% of Marqeta worth $13,722,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Marqeta in the fourth quarter valued at about $33,000. Blueshift Asset Management LLC bought a new position in shares of Marqeta in the fourth quarter valued at about $38,000. Covestor Ltd raised 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 buying an additional 9,290 shares during the last quarter. Bank of Montreal Can raised 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 buying an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Marqeta in the fourth quarter valued at about $41,000. 78.64% of the stock is owned by institutional investors.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $5.20 on Friday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 260.00 and a beta of 1.41. The firm's 50 day simple moving average is $4.24 and its 200 day simple moving average is $3.99. 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 announced its quarterly 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. The business had revenue of $139.07 million for the quarter, compared to the consensus estimate of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. Equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MQ. Barclays lifted their price target on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $5.00 to $6.00 in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research report on Thursday, May 8th. UBS Group lifted their price objective on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.