2,124,421 Shares in Marqeta, Inc. (NASDAQ:MQ) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,124,421 shares of the company's stock, valued at approximately $8,052,000. Norges Bank owned about 0.42% of Marqeta at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Marqeta by 263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock worth $6,499,000 after purchasing an additional 956,992 shares during the period. Congress Asset Management Co. lifted its position in Marqeta by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company's stock valued at $4,305,000 after acquiring an additional 80,161 shares during the last quarter. Barclays PLC grew its holdings in Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company's stock worth $4,238,000 after purchasing an additional 597,539 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after purchasing an additional 441,617 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Marqeta by 2.5% during the 4th quarter. Swiss National Bank now owns 788,900 shares of the company's stock valued at $2,990,000 after purchasing an additional 19,100 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

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Marqeta Stock Performance

Marqeta stock traded up $0.08 during midday trading on Monday, reaching $3.93. 264,864 shares of the company were exchanged, compared to its average volume of 6,528,829. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $6.01. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 196.25 and a beta of 1.42. The firm's 50-day simple moving average is $3.99 and its 200-day simple moving average is $4.15.

Marqeta (NASDAQ:MQ - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $132.71 million. On average, analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on MQ. Barclays reaffirmed an "equal weight" rating and set a $4.00 target price (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Wells Fargo & Company lowered their price objective on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price target on Marqeta from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Marqeta presently has a consensus rating of "Hold" and an average target price of $5.29.

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.