Prana Capital Management LP Sells 115,387 Shares of Marqeta, Inc. (NASDAQ:MQ)

Prana Capital Management LP lowered its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 26.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,056 shares of the company's stock after selling 115,387 shares during the quarter. Prana Capital Management LP owned 0.07% of Marqeta worth $1,240,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Marqeta by 51.6% during the fourth quarter. ProShare Advisors LLC now owns 133,567 shares of the company's stock worth $506,000 after purchasing an additional 45,466 shares during the period. Numerai GP LLC bought a new position in shares of Marqeta in the fourth quarter valued at $107,000. Millennium Management LLC grew its holdings in shares of Marqeta by 110.6% during the fourth quarter. Millennium Management LLC now owns 3,620,476 shares of the company's stock valued at $13,722,000 after buying an additional 1,901,695 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Marqeta by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 269,784 shares of the company's stock valued at $1,022,000 after buying an additional 14,547 shares during the last quarter. Finally, Moore Capital Management LP bought a new stake in shares of Marqeta during the fourth quarter worth about $13,761,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday. Wells Fargo & Company decreased their price target on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price target on Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Marqeta currently has an average rating of "Hold" and a consensus target price of $5.09.

Marqeta Trading Up 1.4%

MQ stock opened at $4.90 on Thursday. The stock has a market cap of $2.47 billion, a PE ratio of 245.00 and a beta of 1.41. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.01. The company has a 50-day moving average price of $4.11 and a 200 day moving average price of $4.01.

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

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.

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