Marqeta, Inc. (NASDAQ:MQ) Shares Purchased by North Reef Capital Management LP

North Reef Capital Management LP grew its stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,786,999 shares of the company's stock after acquiring an additional 3,886,999 shares during the quarter. Marqeta comprises approximately 1.3% of North Reef Capital Management LP's investment portfolio, making the stock its 17th largest holding. North Reef Capital Management LP owned about 1.55% of Marqeta worth $29,513,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Marqeta in the 4th quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD lifted its position in shares of Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company's stock valued at $68,862,000 after buying an additional 17,838,535 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Marqeta during the 4th quarter valued at approximately $19,717,000. Norges Bank purchased a new position in shares of Marqeta during the 4th quarter valued at approximately $8,052,000. Finally, Arnhold LLC purchased a new position in shares of Marqeta during the 4th quarter valued at approximately $6,951,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

MQ has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods decreased their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research report on Monday, January 6th. Finally, The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Marqeta currently has an average rating of "Hold" and an average price target of $5.29.

Marqeta Stock Performance

Shares of MQ remained flat at $3.97 during midday trading on Monday. The company's stock had a trading volume of 3,488,975 shares, compared to its average volume of 5,703,395. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.01. The company has a market capitalization of $2.00 billion, a PE ratio of 198.50 and a beta of 1.42. The business has a fifty day simple moving average of $4.03 and a 200 day simple moving average of $4.08.

Marqeta (NASDAQ:MQ - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 business had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. On average, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current 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.