Charles Schwab Investment Management Inc. Sells 433,868 Shares of Marqeta, Inc. (NASDAQ:MQ)

Charles Schwab Investment Management Inc. decreased its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,126,872 shares of the company's stock after selling 433,868 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.62% of Marqeta worth $11,851,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in Marqeta during the third quarter valued at approximately $57,000. Certuity LLC bought a new position in Marqeta in the 4th quarter worth $44,000. CreativeOne Wealth LLC purchased a new stake in Marqeta in the 3rd quarter worth $59,000. apricus wealth LLC bought a new stake in Marqeta during the fourth quarter valued at about $51,000. Finally, KBC Group NV grew its position in shares of Marqeta by 68.8% during the fourth quarter. KBC Group NV now owns 22,546 shares of the company's stock worth $85,000 after purchasing an additional 9,186 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays reaffirmed an "equal weight" rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their price target 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. The Goldman Sachs Group lifted their target price on Marqeta from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Finally, 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. Eleven 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, Marqeta presently has an average rating of "Hold" and an average target price of $5.33.

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Marqeta Price Performance

Shares of Marqeta stock traded down $0.07 during trading on Tuesday, hitting $4.41. The stock had a trading volume of 6,558,336 shares, compared to its average volume of 5,373,712. The stock has a market cap of $2.22 billion, a PE ratio of 220.50 and a beta of 1.49. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.25. The firm's fifty day simple moving average is $3.92 and its 200-day simple moving average is $4.25.

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

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.