North Reef Capital Management LP Increases Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

North Reef Capital Management LP grew its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 99.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,786,999 shares of the company's stock after buying an additional 3,886,999 shares during the quarter. Marqeta accounts for approximately 1.3% of North Reef Capital Management LP's portfolio, making the stock its 17th largest holding. North Reef Capital Management LP owned about 1.55% of Marqeta worth $29,513,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in 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 acquiring an additional 441,617 shares during the period. Congress Asset Management Co. boosted its holdings 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 purchasing an additional 80,161 shares during the period. Xponance Inc. boosted its holdings in shares of Marqeta by 11.5% in the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after purchasing an additional 3,546 shares during the period. Quantbot Technologies LP purchased a new position in shares of Marqeta in the 4th quarter worth approximately $235,000. Finally, JPMorgan Chase & Co. boosted its holdings in Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after acquiring an additional 956,992 shares during the period. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MQ has been the topic of several recent research reports. The Goldman Sachs Group dropped 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. Keefe, Bruyette & Woods lowered their target price on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.29.

Marqeta Stock Performance

Shares of NASDAQ:MQ traded up $0.01 during trading on Wednesday, hitting $4.13. The company's stock had a trading volume of 1,841,558 shares, compared to its average volume of 5,684,557. The business has a 50 day moving average price of $4.03 and a two-hundred day moving average price of $4.07. The company has a market capitalization of $2.08 billion, a PE ratio of 206.50 and a beta of 1.42. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.01.

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