American Century Companies Inc. Has $1.57 Million Stock Position in Marqeta, Inc. (NASDAQ:MQ)

American Century Companies Inc. boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 197.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286,013 shares of the company's stock after purchasing an additional 189,882 shares during the quarter. American Century Companies Inc. owned about 0.06% of Marqeta worth $1,567,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of MQ. Covestor Ltd lifted its stake in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company's stock valued at $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company's stock valued at $34,000 after buying an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company's stock worth $60,000 after buying an additional 9,973 shares during the period. Empowered Funds LLC acquired a new stake in shares of Marqeta in the first quarter worth $65,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of Marqeta in the 1st quarter valued at $72,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Stock Down 1.2 %

Marqeta stock traded down $0.06 during mid-day trading on Monday, hitting $4.92. 2,790,423 shares of the company's stock traded hands, compared to its average volume of 4,661,225. Marqeta, Inc. has a one year low of $4.40 and a one year high of $7.36. The firm has a 50 day moving average price of $5.18 and a 200 day moving average price of $5.42. The company has a market cap of $2.55 billion, a PE ratio of -13.83 and a beta of 1.78.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business's revenue for the quarter was down 45.8% on a year-over-year basis. On average, analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MQ. Wells Fargo & Company raised shares of Marqeta from an "equal weight" rating to an "overweight" rating and set a $7.00 price target for the company in a research report on Tuesday, June 25th. Susquehanna reiterated a "positive" rating and set a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price target on Marqeta from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $5.50 price objective on shares of Marqeta in a research report on Monday, June 24th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Marqeta from $7.00 to $6.00 and set a "market perform" rating on the stock in a research report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.11.

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.