Teacher Retirement System of Texas Invests $252,000 in Marqeta, Inc. (NASDAQ:MQ)

Teacher Retirement System of Texas purchased a new stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 61,131 shares of the company's stock, valued at approximately $252,000.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Marqeta during the 4th quarter worth $288,000. Swiss National Bank increased its holdings in shares of Marqeta by 2.5% during the 4th quarter. Swiss National Bank now owns 788,900 shares of the company's stock worth $2,990,000 after acquiring an additional 19,100 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Marqeta by 438.3% during the 4th quarter. Corient Private Wealth LLC now owns 125,393 shares of the company's stock worth $475,000 after acquiring an additional 102,100 shares during the period. Cibc World Markets Corp bought a new stake in Marqeta in the fourth quarter valued at approximately $168,000. Finally, Xponance Inc. increased its stake in Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after buying an additional 3,546 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Stock Performance

Marqeta stock traded up $0.12 during midday trading on Monday, reaching $5.85. The stock had a trading volume of 3,611,437 shares, compared to its average volume of 6,296,329. The stock's 50-day simple moving average is $5.51 and its 200 day simple moving average is $4.49. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.01. The stock has a market capitalization of $2.74 billion, a PE ratio of 58.45 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analysts' expectations of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group reduced 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta in a research note on Thursday. They issued a "hold" rating and a $6.00 target price on the stock. JPMorgan Chase & Co. upgraded 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 note on Monday, May 19th. Barclays raised their price objective on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group lifted their target price on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.55.

About Marqeta

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.