Wellington Management Group LLP Invests $19.72 Million in Marqeta, Inc. (NASDAQ:MQ)

Wellington Management Group LLP purchased a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,202,459 shares of the company's stock, valued at approximately $19,717,000. Wellington Management Group LLP owned 1.03% of Marqeta as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Marqeta by 226.4% during the third quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after acquiring an additional 597,539 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Marqeta during the fourth quarter worth approximately $98,000. KBC Group NV increased its position in shares of Marqeta by 68.8% during the fourth quarter. KBC Group NV now owns 22,546 shares of the company's stock worth $85,000 after purchasing an additional 9,186 shares in the last quarter. Empowered Funds LLC raised its stake in Marqeta by 324.6% in the 4th quarter. Empowered Funds LLC now owns 55,793 shares of the company's stock valued at $211,000 after purchasing an additional 42,653 shares during the last quarter. Finally, Certuity LLC purchased a new position in Marqeta in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Price Performance

MQ traded down $0.14 during trading hours on Monday, reaching $5.24. The company's stock had a trading volume of 5,810,877 shares, compared to its average volume of 6,125,463. The stock has a market cap of $2.45 billion, a PE ratio of 262.00 and a beta of 1.41. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.00. The business's 50-day moving average is $4.33 and its 200-day moving average is $4.05.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) EPS 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 business 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 company posted ($0.07) EPS. The company's quarterly revenue was up 17.9% on a year-over-year basis. Analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Barclays boosted their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $5.00 to $6.00 in a report on Monday, May 19th. UBS Group boosted their target price on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group dropped 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. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Marqeta has a consensus rating of "Hold" and a consensus price target of $5.18.

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.