Raymond James Financial Inc. purchased a new position in Marqeta, Inc. (NASDAQ:MQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,929 shares of the company's stock, valued at approximately $288,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in 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 purchasing an additional 441,617 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Marqeta by 7.6% in the 4th 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. JPMorgan Chase & Co. grew its position in Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock worth $6,499,000 after acquiring an additional 956,992 shares in the last quarter. Empowered Funds LLC raised its position in Marqeta by 324.6% during the fourth quarter. Empowered Funds LLC now owns 55,793 shares of the company's stock valued at $211,000 after purchasing an additional 42,653 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Marqeta by 226.4% in the 3rd 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 period. Institutional investors own 78.64% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on MQ shares. Barclays reaffirmed an "equal weight" rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price objective on shares of Marqeta from $5.00 to $4.00 and set a "market perform" rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group decreased their price objective on Marqeta from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.29.
Get Our Latest Research Report on MQ
Marqeta Stock Performance
Shares of NASDAQ:MQ remained flat at $3.92 during midday trading on Tuesday. The stock had a trading volume of 1,258,295 shares, compared to its average volume of 5,669,899. The stock has a market cap of $1.98 billion, a P/E ratio of 196.00 and a beta of 1.42. The company has a 50-day simple moving average of $3.99 and a two-hundred day simple moving average of $4.14. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.01.
Marqeta (NASDAQ:MQ - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. On average, sell-side analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.
Marqeta Profile
(
Free Report)
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.
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