Penserra Capital Management LLC lifted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,364 shares of the company's stock after purchasing an additional 78,431 shares during the quarter. Penserra Capital Management LLC owned about 0.13% of Marqeta worth $2,712,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. bought a new stake in shares of Marqeta in the 4th quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD boosted its position in shares of Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock worth $68,862,000 after purchasing an additional 17,838,535 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock worth $41,819,000 after purchasing an additional 318,184 shares in the last quarter. RPD Fund Management LLC bought a new stake in shares of Marqeta in the 4th quarter worth approximately $37,289,000. Finally, North Reef Capital Management LP lifted its position in Marqeta by 99.7% in the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock valued at $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. 78.64% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on MQ shares. UBS Group upped their price objective on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods upped their price objective on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and increased their price target for the company from $5.00 to $6.00 in a report on Monday, May 19th. Finally, Barclays increased 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. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Marqeta presently has a consensus rating of "Hold" and an average target price of $5.18.
View Our Latest Stock Report on Marqeta
Marqeta Stock Up 0.8%
MQ stock traded up $0.05 during trading on Wednesday, reaching $5.97. The company's stock had a trading volume of 662,319 shares, compared to its average volume of 6,264,648. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.00. The company has a market capitalization of $2.79 billion, a P/E ratio of 59.65 and a beta of 1.54. The company's fifty day moving average is $5.23 and its 200-day moving average is $4.37.
Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Marqeta's revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.
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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