Marqeta, Inc. (NASDAQ:MQ) Shares Acquired by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,880,554 shares of the company's stock after buying an additional 152,002 shares during the period. ZWJ Investment Counsel Inc. owned about 0.37% of Marqeta worth $7,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new position in shares of Marqeta in the fourth quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD boosted its position in Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after buying an additional 17,838,535 shares during the period. Geode Capital Management LLC boosted its position in Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock valued at $41,819,000 after buying an additional 318,184 shares during the period. RPD Fund Management LLC acquired a new position in shares of Marqeta in the fourth quarter worth $37,289,000. Finally, North Reef Capital Management LP grew its stake in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock worth $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Price Performance

Shares of MQ traded up $0.11 during mid-day trading on Friday, reaching $5.97. The company's stock had a trading volume of 3,129,356 shares, compared to its average volume of 6,278,217. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.00. The stock has a market cap of $2.79 billion, a PE ratio of 59.65 and a beta of 1.54. The company's 50 day moving average is $5.16 and its 200 day moving average is $4.34.

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

Analyst Ratings Changes

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