Arnhold LLC Invests $6.95 Million in Marqeta, Inc. (NASDAQ:MQ)

Arnhold LLC purchased a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,833,912 shares of the company's stock, valued at approximately $6,951,000. Arnhold LLC owned 0.37% of Marqeta at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Marqeta in the 4th quarter worth approximately $33,000. Blueshift Asset Management LLC acquired a new stake in shares of Marqeta during the fourth quarter valued at approximately $38,000. Bank of Montreal Can raised its holdings in shares of 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 acquiring an additional 49,243 shares during the period. Covestor Ltd raised its holdings in shares of 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 acquiring an additional 9,290 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Marqeta during the fourth quarter valued at approximately $41,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Price Performance

NASDAQ MQ remained flat at $3.97 during trading on Monday. The company's stock had a trading volume of 3,488,975 shares, compared to its average volume of 5,703,395. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The business's 50 day simple moving average is $4.03 and its two-hundred day simple moving average is $4.08. The company has a market cap of $2.00 billion, a P/E ratio of 198.50 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MQ. The Goldman Sachs Group cut their price target on shares of Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Wells Fargo & Company dropped their price objective on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Marqeta currently has a consensus rating of "Hold" and an average price target of $5.29.

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.