Geode Capital Management LLC Raises Position in Marqeta, Inc. (NASDAQ:MQ)

Geode Capital Management LLC boosted its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,031,591 shares of the company's stock after purchasing an additional 318,184 shares during the period. Geode Capital Management LLC owned about 2.20% of Marqeta worth $41,819,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in Marqeta during the fourth quarter valued at $19,717,000. Norges Bank bought a new position in shares of Marqeta during the 4th quarter worth $8,052,000. JPMorgan Chase & Co. grew its stake in shares of Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock worth $6,499,000 after acquiring an additional 956,992 shares during the period. Congress Asset Management Co. increased its holdings in Marqeta by 7.6% in the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock worth $4,305,000 after acquiring an additional 80,161 shares during the last quarter. Finally, Barclays PLC raised its stake in Marqeta by 226.4% in the 3rd quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after acquiring an additional 597,539 shares during the period. Institutional investors own 78.64% of the company's stock.

Marqeta Stock Down 2.4 %

Shares of MQ stock traded down $0.10 on Friday, reaching $3.83. The company's stock had a trading volume of 4,612,700 shares, compared to its average volume of 5,688,867. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.01. The company has a market capitalization of $1.93 billion, a P/E ratio of 191.25 and a beta of 1.42. The stock's 50 day simple moving average is $4.00 and its 200-day simple moving average is $4.11.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. Research analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MQ. Keefe, Bruyette & Woods cut their target price 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 for the company in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Marqeta currently has a consensus rating of "Hold" and a consensus price target of $5.29.

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.