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

Prana Capital Management LP decreased its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 327,056 shares of the company's stock after selling 115,387 shares during the period. Prana Capital Management LP owned 0.07% of Marqeta worth $1,240,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Marqeta during the fourth quarter valued at $33,000. Blueshift Asset Management LLC bought a new position in Marqeta during the fourth quarter valued at $38,000. Covestor Ltd grew its holdings in Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 9,290 shares during the period. Bank of Montreal Can grew its holdings in Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company's stock valued at $38,000 after purchasing an additional 49,243 shares during the period. Finally, Stifel Financial Corp bought a new position in Marqeta during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Marqeta Stock Up 1.0%

NASDAQ:MQ traded up $0.06 during trading hours on Tuesday, hitting $5.30. 2,086,617 shares of the company's stock traded hands, compared to its average volume of 5,933,346. The firm has a market cap of $2.48 billion, a P/E ratio of 264.75 and a beta of 1.41. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.00. The business's fifty day simple moving average is $4.18 and its two-hundred day simple moving average is $3.98.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings data 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. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm's quarterly revenue was up 17.9% on a year-over-year basis. On average, analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MQ shares. 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 report on Wednesday, April 2nd. JPMorgan Chase & Co. raised shares of Marqeta from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $5.00 to $6.00 in a report on Monday. UBS Group raised 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. Keefe, Bruyette & Woods raised 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. Finally, Barclays raised their price target on Marqeta from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.18.

Marqeta 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.