T. Rowe Price Investment Management Inc. Invests $72.88 Million in Marqeta, Inc. (NASDAQ:MQ)

T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,229,051 shares of the company's stock, valued at approximately $72,879,000. T. Rowe Price Investment Management Inc. owned 3.83% of Marqeta as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after acquiring an additional 17,838,535 shares during the period. Stifel Financial Corp acquired a new stake in shares of Marqeta during the 4th quarter valued at about $41,000. Tower Research Capital LLC TRC grew its position in shares of Marqeta by 36.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company's stock valued at $73,000 after acquiring an additional 5,154 shares during the period. MetLife Investment Management LLC grew its position in shares of Marqeta by 3.5% during the 4th quarter. MetLife Investment Management LLC now owns 279,462 shares of the company's stock valued at $1,059,000 after acquiring an additional 9,368 shares during the period. Finally, Zacks Investment Management acquired a new stake in shares of Marqeta during the 4th quarter valued at about $152,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MQ has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group decreased their target price on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.29.

Marqeta Stock Down 2.3 %

NASDAQ MQ traded down $0.10 during trading hours on Thursday, hitting $4.09. 3,345,700 shares of the company were exchanged, compared to its average volume of 5,695,721. The company has a 50 day moving average of $4.04 and a two-hundred day moving average of $4.07. 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 $2.06 billion, a price-to-earnings ratio of 204.75 and a beta of 1.42.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. On average, equities research 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.