Industry Ventures L.L.C. Lowers Stake in Marqeta, Inc. (NASDAQ:MQ)

Industry Ventures L.L.C. decreased its position in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 39.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,087,237 shares of the company's stock after selling 1,343,027 shares during the period. Marqeta accounts for about 23.8% of Industry Ventures L.L.C.'s investment portfolio, making the stock its 2nd largest holding. Industry Ventures L.L.C. owned 0.41% of Marqeta worth $10,269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Marqeta by 17,340.0% in the first quarter. Covestor Ltd now owns 4,360 shares of the company's stock worth $26,000 after buying an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp grew its position in Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company's stock worth $34,000 after buying an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. grew its position in Marqeta by 7,852.8% in 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 last quarter. Magnetar Financial LLC acquired a new position in Marqeta in the second quarter worth approximately $61,000. Finally, Empowered Funds LLC acquired a new position in Marqeta in the first quarter worth approximately $65,000. Institutional investors own 78.64% of the company's stock.

Marqeta Trading Up 0.7 %

Marqeta stock traded up $0.04 on Wednesday, reaching $5.67. 2,117,604 shares of the stock were exchanged, compared to its average volume of 4,463,528. The stock has a market cap of $2.88 billion, a PE ratio of -283.50 and a beta of 1.77. Marqeta, Inc. has a twelve month low of $4.40 and a twelve month high of $7.36. The firm has a fifty day moving average price of $5.11 and a two-hundred day moving average price of $5.29.

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

Analyst Ratings Changes

MQ has been the topic of several research analyst reports. UBS Group lowered their price objective on shares of Marqeta from $8.50 to $8.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods lowered their price objective 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. Susquehanna reiterated a "positive" rating and set a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Marqeta from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.11.

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.