Marqeta, Inc. (NASDAQ:MQ) Shares Acquired by Palogic Value Management L.P.

Palogic Value Management L.P. increased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 45.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the company's stock after acquiring an additional 125,000 shares during the quarter. Palogic Value Management L.P. owned approximately 0.08% of Marqeta worth $1,516,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Arizona State Retirement System raised its position in Marqeta by 2.5% during the 4th quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock valued at $441,000 after purchasing an additional 2,860 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company's stock worth $174,000 after buying an additional 3,155 shares during the last quarter. Xponance Inc. boosted its stake in shares of Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after buying an additional 3,546 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Marqeta by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company's stock worth $188,000 after buying an additional 3,938 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Marqeta by 36.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock valued at $73,000 after acquiring an additional 5,154 shares during the period. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Performance

Shares of MQ traded down $0.05 during mid-day trading on Friday, hitting $5.32. 12,992,385 shares of the company were exchanged, compared to its average volume of 6,126,749. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.00. The company has a 50 day moving average of $4.33 and a 200-day moving average of $4.05. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 266.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $139.07 million during 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 quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) EPS. Research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on MQ shares. The Goldman Sachs Group dropped their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Barclays boosted their price objective on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $5.00 to $6.00 in a research note on Monday, May 19th. UBS Group upped their price target on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods upped their target price on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Marqeta currently has an average rating of "Hold" and a consensus 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.