Dimensional Fund Advisors LP Acquires 389,045 Shares of Marqeta, Inc. (NASDAQ:MQ)

Dimensional Fund Advisors LP increased its position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,438,277 shares of the company's stock after purchasing an additional 389,045 shares during the period. Dimensional Fund Advisors LP owned 1.44% of Marqeta worth $40,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company's stock valued at $282,717,000 after purchasing an additional 1,642,621 shares during the period. Visa Foundation purchased a new position in Marqeta during the second quarter valued at $68,197,000. Westfield Capital Management Co. LP grew its stake in Marqeta by 27.6% during the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company's stock valued at $44,216,000 after acquiring an additional 1,604,223 shares in the last quarter. Capital International Investors grew its stake in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company's stock valued at $40,998,000 after acquiring an additional 4,609,526 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Marqeta by 65.6% during the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company's stock valued at $14,362,000 after acquiring an additional 1,038,577 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on MQ shares. Susquehanna reaffirmed a "positive" rating and set a $9.00 target price on shares of Marqeta in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods cut their target price on shares of Marqeta from $7.00 to $6.00 and set a "market perform" rating for the company in a research note on Monday, July 8th. Wells Fargo & Company raised shares of Marqeta from an "equal weight" rating to an "overweight" rating and set a $7.00 price objective for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $5.50 price objective on shares of Marqeta in a research note on Monday, June 24th. Finally, UBS Group dropped their price objective on shares of Marqeta from $8.50 to $8.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $7.11.

Marqeta Trading Down 2.0 %

Shares of MQ stock traded down $0.10 during trading hours on Tuesday, reaching $4.82. 3,192,330 shares of the stock were exchanged, compared to its average volume of 4,653,496. Marqeta, Inc. has a 12-month low of $4.40 and a 12-month high of $7.36. The company's 50-day moving average price is $5.17 and its 200-day moving average price is $5.41. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -13.44 and a beta of 1.78.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share 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 company had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. During the same quarter last year, the business posted ($0.07) EPS. The firm's revenue for the quarter was down 45.8% on a year-over-year basis. On average, sell-side analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

About Marqeta

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.