Palogic Value Management L.P. Has $1.52 Million Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Palogic Value Management L.P. boosted its stake in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 45.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 400,000 shares of the company's stock after buying an additional 125,000 shares during the quarter. Palogic Value Management L.P. owned approximately 0.08% of Marqeta worth $1,516,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alkeon Capital Management LLC raised its holdings in shares of Marqeta by 31.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company's stock valued at $36,510,000 after buying an additional 1,767,845 shares during the period. JPMorgan Chase & Co. increased its position 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 valued at $6,499,000 after purchasing an additional 956,992 shares during the period. Barclays PLC boosted its position in shares of Marqeta by 226.4% during the 3rd quarter. Barclays PLC now owns 861,414 shares of the company's stock valued at $4,238,000 after purchasing an additional 597,539 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company's stock worth $3,265,000 after buying an additional 441,617 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in Marqeta by 4.0% during the third quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company's stock valued at $41,001,000 after buying an additional 319,661 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on MQ. Wells Fargo & Company reduced their target price on Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Barclays reiterated an "equal weight" rating and issued a $4.00 price target (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their price objective on Marqeta from $4.00 to $4.50 and gave the company a "neutral" rating in a report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.33.

Marqeta Trading Down 1.6 %

Marqeta stock traded down $0.07 during trading hours on Tuesday, reaching $4.41. 6,558,337 shares of the stock were exchanged, compared to its average volume of 5,373,712. The company has a market cap of $2.22 billion, a P/E ratio of 220.50 and a beta of 1.49. The stock has a 50 day moving average of $3.92 and a two-hundred day moving average of $4.25. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.25.

Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. On average, analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.