KLP Kapitalforvaltning AS Acquires New Stake in Marqeta, Inc. (NASDAQ:MQ)

KLP Kapitalforvaltning AS acquired a new stake 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 firm acquired 90,500 shares of the company's stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MQ. Nordea Investment Management AB grew its holdings in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after buying an additional 441,617 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of 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. Main Management ETF Advisors LLC bought a new stake in shares of Marqeta in the 3rd quarter worth $786,000. XTX Topco Ltd raised its holdings in shares of Marqeta by 1,359.0% in the third quarter. XTX Topco Ltd now owns 191,586 shares of the company's stock valued at $943,000 after purchasing an additional 178,455 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after purchasing an additional 3,546 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Marqeta Stock Performance

NASDAQ MQ traded down $0.14 during trading on Thursday, hitting $3.84. 4,663,542 shares of the company's stock traded hands, compared to its average volume of 5,682,837. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 192.00 and a beta of 1.42. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.01. The business has a 50 day moving average of $3.99 and a 200-day moving average of $4.16.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on MQ shares. Barclays reaffirmed an "equal weight" rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods reduced their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a report on Monday, January 6th. Wells Fargo & Company dropped their price target on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Finally, The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Marqeta presently has a consensus rating of "Hold" and a consensus target price of $5.29.

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.