Vanguard Group Inc. Reduces Position in Marqeta, Inc. (NASDAQ:MQ)

Vanguard Group Inc. decreased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,200,180 shares of the company's stock after selling 1,191,974 shares during the period. Vanguard Group Inc. owned 8.47% of Marqeta worth $264,317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Marqeta by 85.6% in the 3rd quarter. American Century Companies Inc. now owns 257,467 shares of the company's stock valued at $1,540,000 after acquiring an additional 118,750 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Marqeta in the 3rd quarter valued at about $69,000. Comerica Bank bought a new position in shares of Marqeta in the 3rd quarter valued at about $2,916,000. Creative Planning lifted its holdings in shares of Marqeta by 76.5% in the 3rd quarter. Creative Planning now owns 26,198 shares of the company's stock valued at $157,000 after acquiring an additional 11,356 shares during the last quarter. Finally, Horizon Family Wealth Inc. bought a new position in shares of Marqeta in the 3rd quarter valued at about $73,000. Institutional investors own 78.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MQ shares. Bank of America raised shares of Marqeta from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a report on Monday, February 12th. KeyCorp raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock an "overweight" rating in a research note on Monday, January 8th. Wells Fargo & Company raised their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 6th. Truist Financial reissued a "buy" rating and issued a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock a "market perform" rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.58.

Marqeta Price Performance

Shares of NASDAQ:MQ traded up $0.16 during trading on Friday, reaching $5.96. 4,737,984 shares of the company were exchanged, compared to its average volume of 5,739,527. The firm has a market capitalization of $3.06 billion, a PE ratio of -14.19 and a beta of 1.87. The business's fifty day simple moving average is $6.16 and its 200-day simple moving average is $6.11. Marqeta, Inc. has a 12-month low of $3.74 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $118.82 million for the quarter, compared to analyst estimates of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company's quarterly revenue was down 41.7% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share. On average, sell-side analysts anticipate that Marqeta, Inc. will post -0.35 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.