JPMorgan Chase & Co. Acquires 956,992 Shares of Marqeta, Inc. (NASDAQ:MQ)

JPMorgan Chase & Co. increased its holdings in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 263.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,320,893 shares of the company's stock after purchasing an additional 956,992 shares during the period. JPMorgan Chase & Co. owned 0.26% of Marqeta worth $6,499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Marqeta by 197.5% during the 2nd quarter. American Century Companies Inc. now owns 286,013 shares of the company's stock valued at $1,567,000 after purchasing an additional 189,882 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Marqeta by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company's stock valued at $40,759,000 after buying an additional 389,045 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in Marqeta during the 2nd quarter valued at approximately $431,000. Primecap Management Co. CA grew its holdings in Marqeta by 7.3% during the 2nd quarter. Primecap Management Co. CA now owns 484,673 shares of the company's stock valued at $2,656,000 after buying an additional 32,973 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marqeta by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company's stock worth $246,000 after acquiring an additional 3,548 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MQ. Morgan Stanley cut their target price on shares of Marqeta from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report 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 report on Monday, December 2nd. Barclays reiterated an "equal weight" rating and issued a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Finally, KeyCorp downgraded Marqeta from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Marqeta currently has an average rating of "Hold" and a consensus price target of $5.75.

Marqeta Trading Down 1.0 %

Shares of MQ traded down $0.04 during trading hours on Thursday, reaching $3.77. 3,670,586 shares of the company traded hands, compared to its average volume of 3,589,678. The stock's fifty day moving average price is $3.86 and its 200 day moving average price is $4.73. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 188.50 and a beta of 1.52. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to analysts' expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. On average, research analysts forecast that Marqeta, Inc. will post 0.06 earnings per share 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.