Ion Asset Management Ltd. Acquires New Shares in Marqeta, Inc. (NASDAQ:MQ)

Ion Asset Management Ltd. purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 699,000 shares of the company's stock, valued at approximately $2,649,000. Marqeta comprises approximately 0.2% of Ion Asset Management Ltd.'s holdings, making the stock its 28th biggest holding. Ion Asset Management Ltd. owned about 0.14% of Marqeta as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MQ. T. Rowe Price Investment Management Inc. acquired a new position in Marqeta in the fourth quarter worth about $72,879,000. Price T Rowe Associates Inc. MD grew its stake in shares of Marqeta by 5,396.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC increased its stake 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 buying an additional 318,184 shares during the period. North Reef Capital Management LP increased 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 during the last quarter. Finally, Invesco Ltd. raised its position in shares of Marqeta by 3.7% in the 4th quarter. Invesco Ltd. now owns 5,385,646 shares of the company's stock valued at $20,412,000 after acquiring an additional 193,590 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on MQ shares. Wells Fargo & Company reduced their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered 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. Finally, The Goldman Sachs Group dropped their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.29.

Marqeta Stock Performance

Shares of NASDAQ MQ traded down $0.24 during trading hours on Friday, reaching $3.85. 12,182,158 shares of the stock were exchanged, compared to its average volume of 5,741,020. The stock's fifty day simple moving average is $4.05 and its 200 day simple moving average is $4.05. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 192.50 and a beta of 1.42. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.01.

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

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.