Commonwealth Equity Services LLC lessened its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,990 shares of the company's stock after selling 403,935 shares during the period. Commonwealth Equity Services LLC's holdings in Marqeta were worth $208,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MQ. Verition Fund Management LLC raised its position in shares of Marqeta by 45.5% in the 3rd quarter. Verition Fund Management LLC now owns 69,163 shares of the company's stock valued at $340,000 after buying an additional 21,625 shares in the last quarter. XTX Topco Ltd grew its position in Marqeta by 1,359.0% in the third quarter. XTX Topco Ltd now owns 191,586 shares of the company's stock valued at $943,000 after acquiring an additional 178,455 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Marqeta during the third quarter worth about $339,000. Barclays PLC lifted its holdings in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company's stock worth $4,238,000 after acquiring an additional 597,539 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Marqeta by 263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after purchasing an additional 956,992 shares in the last quarter. 78.64% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on MQ shares. Wells Fargo & Company dropped their price target on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group reduced their price objective 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, Barclays reaffirmed an "equal weight" rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Marqeta has a consensus rating of "Hold" and a consensus target price of $5.29.
Read Our Latest Stock Report on MQ
Marqeta Trading Up 1.1 %
Shares of MQ stock traded up $0.05 during trading on Tuesday, reaching $3.97. 287,834 shares of the company's stock traded hands, compared to its average volume of 5,666,024. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.01. The company has a market capitalization of $2.00 billion, a P/E ratio of 197.75 and a beta of 1.42. The firm's 50-day moving average is $3.99 and its 200 day moving average is $4.14.
Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to analysts' expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.
About Marqeta
(
Free Report)
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.
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