Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stake in Marqeta, Inc. (NASDAQ:MQ)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 54.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,478 shares of the company’s stock after acquiring an additional 9,369 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Marqeta were worth $155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its stake in shares of Marqeta by 22.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,900,000 shares of the company’s stock worth $11,609,000 after buying an additional 350,000 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in Marqeta during the 4th quarter valued at $3,490,208,000,000. Y.D. More Investments Ltd purchased a new stake in Marqeta during the 4th quarter valued at $67,000. Sepio Capital LP purchased a new stake in Marqeta during the 4th quarter valued at $181,000. Finally, SG Americas Securities LLC boosted its stake in Marqeta by 140.0% during the 4th quarter. SG Americas Securities LLC now owns 146,587 shares of the company’s stock valued at $896,000 after purchasing an additional 85,513 shares during the last quarter. Hedge funds and other institutional investors own 61.35% of the company’s stock.

Analyst Ratings Changes

MQ has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 1st. DA Davidson cut their target price on Marqeta from $7.25 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 1st. Credit Suisse Group lowered their price target on Marqeta from $13.50 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Wolfe Research raised Marqeta from a “peer perform” rating to an “outperform” rating and set a $5.50 price target on the stock in a report on Monday, March 27th. Finally, Mizuho lowered their price target on Marqeta from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.21.

Marqeta Stock Performance

Shares of MQ stock opened at $4.43 on Wednesday. Marqeta, Inc. has a 52-week low of $3.46 and a 52-week high of $12.06. The firm has a market capitalization of $2.39 billion, a PE ratio of -13.03 and a beta of 1.80. The stock has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $5.73.

Marqeta (NASDAQ:MQ – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a negative return on equity of 12.19% and a negative net margin of 24.70%. The business had revenue of $203.80 million during the quarter, compared to analyst estimates of $202.67 million. During the same quarter in the prior year, the business posted ($0.07) EPS. Marqeta’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, sell-side analysts forecast that Marqeta, Inc. will post -0.37 EPS 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.