Penserra Capital Management LLC Purchases 78,431 Shares of Marqeta, Inc. (NASDAQ:MQ)

Penserra Capital Management LLC increased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 13.5% in the 1st quarter, according to its most recent disclosure 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 period. Penserra Capital Management LLC owned approximately 0.13% of Marqeta worth $2,712,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Marqeta during the fourth quarter worth approximately $288,000. Xponance Inc. increased its holdings in Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after purchasing an additional 3,546 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Marqeta during the 4th quarter valued at $1,520,000. Northern Trust Corp increased its stake in shares of Marqeta by 3.9% in the fourth quarter. Northern Trust Corp now owns 4,301,993 shares of the company's stock valued at $16,305,000 after buying an additional 161,968 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. acquired a new stake in shares of Marqeta in the fourth quarter valued at $778,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MQ shares. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $4.50 to $6.50 and gave the stock a "market perform" rating in a research report on Wednesday. UBS Group lifted their price objective on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Barclays lifted 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. The Goldman Sachs Group decreased 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. Finally, JPMorgan Chase & Co. upgraded Marqeta from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $5.00 to $6.00 in a research report on Monday, May 19th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.36.

Marqeta Stock Down 4.5%

Shares of Marqeta stock traded down $0.27 during trading on Friday, reaching $5.71. The company's stock had a trading volume of 5,994,991 shares, compared to its average volume of 6,298,642. The business's 50-day moving average price is $5.34 and its 200-day moving average price is $4.41. The firm has a market cap of $2.67 billion, a PE ratio of 57.10 and a beta of 1.54. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.01.

Marqeta (NASDAQ:MQ - Get Free Report) last released its 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. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. The firm had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. During the same period in the prior year, the company posted ($0.07) EPS. The company's revenue was up 17.9% compared to the same quarter last year. Equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

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.