Marqeta, Inc. (NASDAQ:MQ) Stock Holdings Cut by Arizona State Retirement System

Arizona State Retirement System cut its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 106,434 shares of the company’s stock after selling 4,223 shares during the quarter. Arizona State Retirement System’s holdings in Marqeta were worth $743,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MQ. Aigen Investment Management LP lifted its stake in Marqeta by 6.7% during the third quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock valued at $168,000 after purchasing an additional 1,763 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Marqeta by 39.6% in the 2nd quarter. Captrust Financial Advisors now owns 6,686 shares of the company’s stock worth $54,000 after acquiring an additional 1,896 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Marqeta by 14.9% during the third quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company’s stock worth $106,000 after purchasing an additional 2,300 shares during the period. Amalgamated Bank raised its position in shares of Marqeta by 4.9% during the third quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after purchasing an additional 2,395 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Marqeta by 39.4% during the third quarter. Advisors Asset Management Inc. now owns 11,235 shares of the company’s stock valued at $67,000 after purchasing an additional 3,174 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Bank of America raised Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Monday, February 12th. Keefe, Bruyette & Woods boosted their price target on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Barclays upped their price target on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Truist Financial reiterated a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Finally, KeyCorp boosted their target price on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Price Performance

Shares of MQ stock opened at $5.47 on Friday. Marqeta, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $7.36. The stock’s 50-day moving average is $6.06 and its two-hundred day moving average is $6.07. The firm has a market cap of $2.81 billion, a P/E ratio of -13.02 and a beta of 1.84.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $118.82 million during the quarter, compared to analysts’ expectations of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm’s quarterly revenue was down 41.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) EPS. As a group, research analysts expect that Marqeta, Inc. will post -0.35 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.