State of Wyoming Sells 54,114 Shares of Marqeta, Inc. (NASDAQ:MQ)

State of Wyoming lowered its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 29.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,890 shares of the company's stock after selling 54,114 shares during the quarter. State of Wyoming's holdings in Marqeta were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Marqeta in the fourth quarter valued at about $33,000. Blueshift Asset Management LLC bought a new stake in Marqeta in the fourth quarter valued at about $38,000. Covestor Ltd increased its stake in 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 acquiring an additional 9,290 shares during the period. Bank of Montreal Can increased its stake in 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 acquiring an additional 49,243 shares during the period. Finally, Stifel Financial Corp bought a new stake in Marqeta in the fourth quarter valued at about $41,000. Institutional investors own 78.64% of the company's stock.

Analyst Upgrades and Downgrades

MQ has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Barclays boosted their price target on shares of Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. UBS Group boosted their price target on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and boosted their price target for the company 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 assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.18.

Marqeta Stock Down 2.5%

NASDAQ MQ traded down $0.13 during trading hours on Friday, hitting $5.07. The company's stock had a trading volume of 12,402,689 shares, compared to its average volume of 6,078,701. The stock has a fifty day moving average of $4.26 and a 200 day moving average of $4.00. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.00. The firm has a market capitalization of $2.37 billion, a P/E ratio of 253.50 and a beta of 1.41.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Marqeta's revenue was up 17.9% compared to the same quarter last year. On average, analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Marqeta 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.