Sei Investments Co. Cuts Holdings in Marqeta, Inc. (NASDAQ:MQ)

Sei Investments Co. cut its position in Marqeta, Inc. (NASDAQ:MQ - Free Report) by 93.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,682 shares of the company's stock after selling 240,982 shares during the period. Sei Investments Co.'s holdings in Marqeta were worth $63,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new position in Marqeta during the 4th quarter valued at about $38,000. Certuity LLC bought a new stake in Marqeta during the fourth quarter worth $44,000. apricus wealth LLC purchased a new stake in Marqeta in the 4th quarter valued at $51,000. KBC Group NV lifted its stake in Marqeta by 68.8% during the 4th quarter. KBC Group NV now owns 22,546 shares of the company's stock valued at $85,000 after acquiring an additional 9,186 shares in the last quarter. Finally, Tallon Kerry Patrick purchased a new position in Marqeta during the 4th quarter worth $98,000. 78.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MQ. Wells Fargo & Company dropped their price target on shares of Marqeta from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on Marqeta from $5.00 to $4.00 and set a "market perform" rating on the stock in a research note on Monday, January 6th. Barclays reiterated an "equal weight" rating and set a $4.00 price target (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group reduced 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. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.29.

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Marqeta Price Performance

Shares of Marqeta stock traded down $0.01 during trading hours on Tuesday, reaching $3.91. The company had a trading volume of 2,383,791 shares, compared to its average volume of 5,673,989. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The firm has a market cap of $1.97 billion, a PE ratio of 195.50 and a beta of 1.42. The business has a fifty day simple moving average of $3.99 and a 200 day simple moving average of $4.14.

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

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.