Gilder Gagnon Howe & Co. LLC Cuts Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Gilder Gagnon Howe & Co. LLC lessened its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 85.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 834,180 shares of the company's stock after selling 4,917,177 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 0.17% of Marqeta worth $3,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock valued at $3,265,000 after buying an additional 441,617 shares in the last quarter. Congress Asset Management Co. increased its holdings in Marqeta by 7.6% in the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after acquiring an additional 80,161 shares in the last quarter. Xponance Inc. raised its position in Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after acquiring an additional 3,546 shares during the period. Quantbot Technologies LP purchased a new position in Marqeta during the fourth quarter valued at $235,000. Finally, JPMorgan Chase & Co. grew its position in shares of Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after purchasing an additional 956,992 shares during the period. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Stock Down 3.8 %

NASDAQ:MQ traded down $0.16 on Friday, hitting $3.94. The stock had a trading volume of 6,109,958 shares, compared to its average volume of 5,718,355. The company has a fifty day moving average price of $4.05 and a two-hundred day moving average price of $4.06. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 196.70 and a beta of 1.42. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.01.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. As a group, analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MQ. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Eleven 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, the company presently has a consensus rating of "Hold" and a consensus price target of $5.29.

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.