Wellington Management Group LLP acquired a new stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,202,459 shares of the company's stock, valued at approximately $19,717,000. Wellington Management Group LLP owned approximately 1.03% of Marqeta as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. acquired a new position in Marqeta in the 4th quarter worth about $72,879,000. Price T Rowe Associates Inc. MD increased its holdings in Marqeta by 5,396.3% in 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 buying an additional 17,838,535 shares during the last quarter. RPD Fund Management LLC bought a new position in Marqeta during the fourth quarter valued at approximately $37,289,000. North Reef Capital Management LP raised its position in Marqeta by 99.7% during the fourth 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. Finally, Moore Capital Management LP acquired a new stake in Marqeta in the fourth quarter valued at approximately $13,761,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
Marqeta Price Performance
Shares of NASDAQ MQ traded up $0.03 during mid-day trading on Wednesday, hitting $5.38. The company had a trading volume of 6,226,906 shares, compared to its average volume of 6,150,657. The business's 50-day simple moving average is $4.39 and its 200-day simple moving average is $4.07. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.00. The firm has a market cap of $2.52 billion, a P/E ratio of 269.00 and a beta of 1.41.
Marqeta (NASDAQ:MQ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate 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 return on equity of 1.20% and a net margin of 2.86%. Marqeta's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the business earned ($0.07) earnings per share. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on MQ. JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and raised their price target for the company from $5.00 to $6.00 in a report on Monday, May 19th. UBS Group raised their target price on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Barclays boosted their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $5.18.
View Our Latest Stock Analysis on MQ
About Marqeta
(
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
Before you consider Marqeta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marqeta wasn't on the list.
While Marqeta currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
