Congress Asset Management Co. Buys 336,349 Shares of Marqeta, Inc. (NASDAQ:MQ)

Congress Asset Management Co. boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 46.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,055,681 shares of the company's stock after acquiring an additional 336,349 shares during the period. Congress Asset Management Co. owned 0.20% of Marqeta worth $5,194,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company's stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the period. Visa Foundation acquired a new position in Marqeta in the second quarter valued at about $68,197,000. Dimensional Fund Advisors LP increased its holdings in shares of Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company's stock worth $40,759,000 after acquiring an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Marqeta by 27.6% in the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company's stock worth $44,216,000 after acquiring an additional 1,604,223 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company's stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the period. Institutional investors own 78.64% of the company's stock.

Marqeta Stock Up 3.4 %

Shares of NASDAQ:MQ traded up $0.19 during trading on Friday, reaching $5.85. 9,495,519 shares of the company traded hands, compared to its average volume of 2,875,162. The firm has a market capitalization of $2.97 billion, a PE ratio of -292.35 and a beta of 1.73. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The company's 50 day moving average is $5.13 and its two-hundred day moving average is $5.30.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share (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 analysts' expectations of $121.87 million. During the same period last year, the firm posted ($0.07) earnings per share. The firm's quarterly revenue was down 45.8% compared to the same quarter last year. As a group, research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MQ shares. Keefe, Bruyette & Woods reduced 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. Susquehanna restated a "positive" rating and issued a $9.00 target price on shares of Marqeta in a research note on Tuesday, August 6th. UBS Group decreased their price target 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. Finally, JPMorgan Chase & Co. cut 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 given a buy rating to the stock. According to data from MarketBeat, Marqeta has a consensus rating of "Moderate Buy" and an average target price of $7.11.

Marqeta Company 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.