State of New Jersey Common Pension Fund D Grows Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

State of New Jersey Common Pension Fund D increased its stake in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 37.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 320,498 shares of the company’s stock after buying an additional 87,484 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Marqeta worth $2,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MQ. Advisors Asset Management Inc. purchased a new stake in Marqeta in the 1st quarter valued at approximately $38,000. GPS Wealth Strategies Group LLC purchased a new stake in Marqeta in the 2nd quarter valued at approximately $51,000. Captrust Financial Advisors purchased a new stake in Marqeta in the 1st quarter valued at approximately $53,000. CWM LLC purchased a new stake in Marqeta in the 2nd quarter valued at approximately $63,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Marqeta by 1,104.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,827 shares of the company’s stock valued at $63,000 after purchasing an additional 7,177 shares in the last quarter. Hedge funds and other institutional investors own 61.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MQ. The Goldman Sachs Group decreased their price target on Marqeta from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. Wells Fargo & Company decreased their price target on Marqeta from $7.00 to $6.50 and set an “underweight” rating on the stock in a research note on Monday, January 9th. DA Davidson began coverage on Marqeta in a research note on Wednesday, November 9th. They set a “neutral” rating and a $7.25 price target on the stock. Barclays decreased their price target on Marqeta from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, November 14th. Finally, Morgan Stanley decreased their price target on Marqeta from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Marqeta Stock Performance

Shares of MQ opened at $6.59 on Tuesday. The stock has a fifty day moving average of $6.46 and a two-hundred day moving average of $7.47. The company has a market capitalization of $3.59 billion, a PE ratio of -18.31 and a beta of 1.90. Marqeta, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $14.75.

Marqeta (NASDAQ:MQ – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $191.62 million during the quarter, compared to the consensus estimate of $180.53 million. Marqeta had a negative return on equity of 12.67% and a negative net margin of 27.90%. As a group, equities research analysts forecast that Marqeta, Inc. will post -0.4 earnings per share for the current fiscal year.

About Marqeta

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.