Northern Trust Corp Has $16.31 Million Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Northern Trust Corp grew its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,301,993 shares of the company's stock after purchasing an additional 161,968 shares during the quarter. Northern Trust Corp owned approximately 0.86% of Marqeta worth $16,305,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Congress Asset Management Co. increased its stake in Marqeta by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock valued at $4,305,000 after purchasing an additional 80,161 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Marqeta during the 4th quarter worth approximately $288,000. Xponance Inc. increased its stake in Marqeta by 11.5% during the 4th quarter. Xponance Inc. now owns 34,314 shares of the company's stock worth $130,000 after buying an additional 3,546 shares in the last quarter. Mission Creek Capital Partners Inc. purchased a new stake in shares of Marqeta in the fourth quarter valued at approximately $778,000. Finally, Quantbot Technologies LP purchased a new position in Marqeta in the fourth quarter worth approximately $235,000. Institutional investors own 78.64% of the company's stock.

Analyst Ratings Changes

MQ has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a report on Thursday, May 8th. Barclays lifted their price objective on Marqeta from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. raised Marqeta from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $5.00 to $6.00 in a report on Monday. UBS Group upped their price target on Marqeta from $4.75 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, 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 report on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.18.

Marqeta Trading Down 0.5%

Shares of Marqeta stock traded down $0.03 during midday trading on Tuesday, reaching $5.22. The company had a trading volume of 297,938 shares, compared to its average volume of 5,926,405. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 261.75 and a beta of 1.41. The stock has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $3.98. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.00.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. Sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current 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.