Bank of New York Mellon Corp Sells 825,380 Shares of Marqeta, Inc. (NASDAQ:MQ)

Bank of New York Mellon Corp decreased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 37.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,407 shares of the company's stock after selling 825,380 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Marqeta worth $5,171,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB grew its stake in Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock valued at $3,265,000 after purchasing an additional 441,617 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Marqeta in the 3rd quarter valued at approximately $1,466,000. Congress Asset Management Co. increased its holdings in Marqeta by 7.6% in the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after buying an additional 80,161 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in Marqeta during the third quarter valued at approximately $786,000. Finally, Holocene Advisors LP lifted its stake in Marqeta by 143.0% in the third quarter. Holocene Advisors LP now owns 522,059 shares of the company's stock valued at $2,569,000 after acquiring an additional 307,223 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Down 1.9 %

NASDAQ MQ traded down $0.09 during midday trading on Friday, hitting $4.43. The company had a trading volume of 4,414,439 shares, compared to its average volume of 5,357,293. The firm has a fifty day simple moving average of $3.89 and a two-hundred day simple moving average of $4.27. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 221.65 and a beta of 1.49. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.44.

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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. The business had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

MQ has been the topic of several analyst reports. Wells Fargo & Company dropped 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 note on Thursday, January 16th. The Goldman Sachs Group raised their target price on Marqeta from $4.00 to $4.50 and gave the company a "neutral" rating in a report on Thursday, February 27th. Barclays reiterated an "equal weight" rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods cut their price objective on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research note on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.33.

Marqeta 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.