Voloridge Investment Management LLC Reduces Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Voloridge Investment Management LLC lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 77.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,275 shares of the company's stock after selling 619,708 shares during the quarter. Voloridge Investment Management LLC's holdings in Marqeta were worth $683,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new position in Marqeta during the fourth quarter worth $72,879,000. Price T Rowe Associates Inc. MD increased its position in shares of Marqeta by 5,396.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock worth $68,862,000 after acquiring an additional 17,838,535 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 318,184 shares during the last quarter. RPD Fund Management LLC acquired a new stake in shares of Marqeta in the 4th quarter worth about $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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on MQ. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $5.00 to $6.00 in a research note on Monday, May 19th. Barclays upped their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Keefe, Bruyette & Woods raised their price objective on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group increased their target price on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $5.18.

Marqeta Stock Down 0.9%

NASDAQ MQ traded down $0.05 during trading hours on Friday, reaching $5.32. 12,992,385 shares of the company were exchanged, compared to its average volume of 6,126,749. The stock has a market capitalization of $2.49 billion, a P/E ratio of 266.00 and a beta of 1.41. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.00. The business's 50 day simple moving average is $4.33 and its 200-day simple moving average is $4.04.

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 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 company had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same quarter last year, the business posted ($0.07) EPS. Marqeta's quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.