Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,569,842 shares of the company's stock after selling 276,764 shares during the period. Renaissance Technologies LLC owned approximately 2.30% of Marqeta worth $43,850,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Marqeta by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company's stock valued at $41,819,000 after purchasing an additional 318,184 shares during the period. Invesco Ltd. increased its holdings in Marqeta by 3.7% in the 4th quarter. Invesco Ltd. now owns 5,385,646 shares of the company's stock worth $20,412,000 after buying an additional 193,590 shares during the period. Wellington Management Group LLP purchased a new position in Marqeta during the 4th quarter worth approximately $19,717,000. Norges Bank acquired a new stake in Marqeta during the 4th quarter valued at approximately $8,052,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Marqeta by 263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company's stock valued at $6,499,000 after acquiring an additional 956,992 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Marqeta Price Performance

NASDAQ MQ traded down $0.02 during trading hours on Tuesday, hitting $3.91. 1,874,791 shares of the company's stock traded hands, compared to its average volume of 5,673,985. The firm's 50-day moving average is $3.99 and its 200-day moving average is $4.14. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.01. The company has a market capitalization of $1.97 billion, a PE ratio of 195.25 and a beta of 1.42.

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Marqeta (NASDAQ:MQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping 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 firm had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Equities research analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.