9,838,704 Shares in Marqeta, Inc. (NASDAQ:MQ) Acquired by RPD Fund Management LLC

RPD Fund Management LLC acquired a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,838,704 shares of the company's stock, valued at approximately $37,289,000. Marqeta makes up about 15.2% of RPD Fund Management LLC's holdings, making the stock its 3rd largest holding. RPD Fund Management LLC owned about 1.96% of Marqeta as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System grew its position in shares of Marqeta by 2.5% during the 4th quarter. Arizona State Retirement System now owns 116,397 shares of the company's stock valued at $441,000 after acquiring an additional 2,860 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company's stock valued at $174,000 after acquiring an additional 3,155 shares during the period. Xponance Inc. lifted its holdings in Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company's stock valued at $130,000 after purchasing an additional 3,546 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Marqeta by 8.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company's stock valued at $188,000 after purchasing an additional 3,938 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Marqeta by 36.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock valued at $73,000 after purchasing an additional 5,154 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MQ. Barclays upped their price objective on shares of 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 shares of Marqeta from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $5.00 to $6.00 in a report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Marqeta from $4.00 to $4.50 and gave the company a "market perform" rating in a report on Thursday, May 8th. The Goldman Sachs Group decreased their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group raised their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $5.18.

Marqeta Price Performance

MQ stock traded up $0.20 during midday trading on Monday, reaching $5.24. The company had a trading volume of 10,579,850 shares, compared to its average volume of 5,947,761. The firm has a 50-day moving average price of $4.15 and a 200-day moving average price of $3.98. The company has a market capitalization of $2.64 billion, a P/E ratio of 262.00 and a beta of 1.41. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. The firm had revenue of $139.07 million for 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 business's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, equities analysts predict 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.