Rhumbline Advisers boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 686,876 shares of the company's stock after buying an additional 47,965 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of Marqeta worth $2,830,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in Marqeta by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 380,608 shares of the company's stock valued at $1,443,000 after buying an additional 2,343 shares in the last quarter. Arizona State Retirement System boosted its stake in Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock worth $441,000 after purchasing an additional 2,860 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Marqeta by 7.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company's stock worth $174,000 after purchasing an additional 3,155 shares in the last quarter. Xponance Inc. boosted its stake in Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after purchasing an additional 3,546 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in 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 purchasing an additional 3,938 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.
Marqeta Stock Down 2.4%
Shares of MQ opened at $5.38 on Monday. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.00. The firm has a market capitalization of $2.52 billion, a PE ratio of 269.00 and a beta of 1.53. The stock's fifty day simple moving average is $4.60 and its 200-day simple moving average is $4.15.
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 the consensus estimate of ($0.05) by $0.03. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The company's quarterly revenue was up 17.9% on a year-over-year basis. Analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.
Analyst Upgrades and Downgrades
MQ has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised 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. Barclays boosted 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. Keefe, Bruyette & Woods boosted their price objective on 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 boosted 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. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.18.
Check Out Our Latest Analysis on MQ
Marqeta Company Profile
(
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.
Further Reading
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