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

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

Other hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new position in shares of Marqeta during the fourth quarter worth $72,879,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $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 during the 4th quarter worth about $37,289,000. Finally, North Reef Capital Management LP boosted its holdings in Marqeta by 99.7% in 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 purchasing an additional 3,886,999 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Trading Up 1.8%

Shares of Marqeta stock traded up $0.11 during trading hours on Friday, hitting $5.97. 3,129,356 shares of the company were exchanged, compared to its average volume of 6,260,754. The business has a 50-day moving average of $5.12 and a 200-day moving average of $4.32. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.00. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 59.65 and a beta of 1.54.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) 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 net margin of 10.43% and a return on equity of 5.11%. The firm's revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. As a group, research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $5.00 to $6.00 in a report on Monday, May 19th. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. UBS Group raised their price objective on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays boosted their price objective on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.18.

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.