Price T Rowe Associates Inc. MD Has $68.86 Million Position in Marqeta, Inc. (NASDAQ:MQ)

Price T Rowe Associates Inc. MD lifted its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 5,396.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,169,103 shares of the company's stock after acquiring an additional 17,838,535 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.62% of Marqeta worth $68,862,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Marqeta by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock valued at $41,819,000 after buying an additional 318,184 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Marqeta by 3.7% during the fourth quarter. Invesco Ltd. now owns 5,385,646 shares of the company's stock valued at $20,412,000 after purchasing an additional 193,590 shares in the last quarter. Wellington Management Group LLP bought a new stake in Marqeta in the 4th quarter worth about $19,717,000. Norges Bank purchased a new stake in shares of Marqeta during the 4th quarter valued at about $8,052,000. Finally, JPMorgan Chase & Co. grew its holdings in Marqeta by 263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after purchasing an additional 956,992 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Stock Performance

Shares of MQ traded down $0.24 during midday trading on Friday, hitting $3.85. 12,182,158 shares of the stock were exchanged, compared to its average volume of 5,742,072. The stock has a fifty day simple moving average of $4.05 and a 200 day simple moving average of $4.06. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.01. The firm has a market cap of $1.94 billion, a P/E ratio of 192.50 and a beta of 1.42.

Marqeta (NASDAQ:MQ - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. As a group, equities research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MQ shares. The Goldman Sachs Group dropped their target price on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on 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 cut their target price on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Marqeta currently has a consensus rating of "Hold" and a consensus target price of $5.29.

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.