RPD Fund Management LLC Makes New Investment in Marqeta, Inc. (NASDAQ:MQ)

RPD Fund Management LLC acquired a new stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,838,704 shares of the company's stock, valued at approximately $37,289,000. Marqeta comprises approximately 15.2% of RPD Fund Management LLC's holdings, making the stock its 3rd biggest position. RPD Fund Management LLC owned approximately 1.96% of Marqeta at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta in the 4th quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD lifted its stake in Marqeta by 5,396.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the last quarter. Wellington Management Group LLP acquired a new position in Marqeta in the fourth quarter worth approximately $19,717,000. North Reef Capital Management LP increased its holdings in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company's stock valued at $29,513,000 after buying an additional 3,886,999 shares in the last quarter. Finally, Moore Capital Management LP acquired a new stake in shares of Marqeta during the 4th quarter valued at $13,761,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MQ shares. Barclays boosted their price target 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. UBS Group upped their target price on Marqeta from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods raised their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a "market perform" rating in a report on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Marqeta from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $5.00 to $6.00 in a research report on Monday. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.18.

Marqeta Stock Up 0.7%

NASDAQ:MQ traded up $0.04 during trading hours on Wednesday, hitting $5.26. 4,768,360 shares of the company's stock traded hands, compared to its average volume of 5,972,870. 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 $4.20 and its two-hundred day simple moving average is $3.98. The firm has a market cap of $2.46 billion, a P/E ratio of 263.25 and a beta of 1.41.

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, topping analysts' consensus estimates of ($0.05) by $0.03. The company had revenue of $139.07 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, analysts expect 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.