Vanguard Group Inc. Sells 954,831 Shares of Marqeta, Inc. (NASDAQ:MQ)

Vanguard Group Inc. trimmed its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,350,753 shares of the company's stock after selling 954,831 shares during the quarter. Vanguard Group Inc. owned approximately 8.83% of Marqeta worth $168,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new stake in shares of Marqeta during the fourth quarter valued at about $38,000. Certuity LLC acquired a new stake in Marqeta during the 4th quarter worth approximately $44,000. apricus wealth LLC bought a new stake in Marqeta during the 4th quarter worth approximately $51,000. Point72 DIFC Ltd bought a new stake in Marqeta during the 3rd quarter worth approximately $57,000. Finally, KBC Group NV raised its stake in shares of Marqeta by 68.8% during the fourth quarter. KBC Group NV now owns 22,546 shares of the company's stock valued at $85,000 after acquiring an additional 9,186 shares during the last quarter. Institutional investors own 78.64% of the company's stock.

Marqeta Stock Performance

Shares of NASDAQ MQ traded up $0.01 during trading on Friday, hitting $3.85. 5,402,003 shares of the company traded hands, compared to its average volume of 5,692,410. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 192.50 and a beta of 1.42. The business's fifty day moving average is $3.99 and its 200 day moving average is $4.15. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.01.

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Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly 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%. On average, analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. 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. 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. Wells Fargo & Company lowered their price objective on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.