Marqeta, Inc. (NASDAQ:MQ) Stock Position Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in Marqeta, Inc. (NASDAQ:MQ) by 45.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,696 shares of the company’s stock after acquiring an additional 73,851 shares during the period. Wells Fargo & Company MN’s holdings in Marqeta were worth $897,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. RPO LLC bought a new stake in Marqeta in the fourth quarter worth approximately $58,000. ExodusPoint Capital Management LP grew its position in Marqeta by 299.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 561,921 shares of the company’s stock worth $2,130,000 after acquiring an additional 421,147 shares in the last quarter. Headlands Technologies LLC bought a new stake in Marqeta in the fourth quarter worth approximately $33,000. Geode Capital Management LLC grew its position in Marqeta by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock worth $41,819,000 after acquiring an additional 318,184 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Marqeta during the 4th quarter worth $19,717,000. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MQ shares. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Wells Fargo & Company decreased their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.29.

Marqeta Price Performance

NASDAQ:MQ opened at $4.18 on Thursday. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The stock has a market cap of $2.11 billion, a P/E ratio of 209.00 and a beta of 1.42. The company has a fifty day moving average price of $4.04 and a 200 day moving average price of $4.07.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Marqeta Profile

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.