Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Creative Planning

Creative Planning decreased its position in Marqeta, Inc. (NASDAQ:MQ) by 19.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,875 shares of the company’s stock after selling 14,049 shares during the quarter. Creative Planning’s holdings in Marqeta were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MQ. Vanguard Group Inc. increased its position in Marqeta by 3.6% during the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after purchasing an additional 1,642,621 shares during the last quarter. Visa Foundation acquired a new stake in shares of Marqeta during the 2nd quarter worth $68,197,000. Dimensional Fund Advisors LP raised its position in shares of Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after buying an additional 389,045 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Marqeta by 27.6% in the first quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after acquiring an additional 1,604,223 shares during the last quarter. Finally, Capital International Investors grew its position in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after acquiring an additional 4,609,526 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MQ has been the topic of a number of recent research reports. KeyCorp cut shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Tuesday, November 5th. Mizuho lowered their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, UBS Group lowered their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Marqeta presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

Shares of MQ stock opened at $3.74 on Friday. The business has a 50 day simple moving average of $5.02 and a 200 day simple moving average of $5.25. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 187.00 and a beta of 1.73. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal 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.