BNP Paribas Financial Markets Makes New $1.52 Million Investment in Marqeta, Inc. (NASDAQ:MQ)

BNP Paribas Financial Markets purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 401,071 shares of the company’s stock, valued at approximately $1,520,000. BNP Paribas Financial Markets owned about 0.08% of Marqeta at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta during the fourth quarter worth approximately $72,879,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Marqeta in the 4th quarter valued at $19,717,000. North Reef Capital Management LP lifted its holdings in shares of Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock valued at $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Marqeta during the 4th quarter valued at $8,052,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

Marqeta stock opened at $5.04 on Monday. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.00. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 252.00 and a beta of 1.41. The firm’s fifty day moving average price is $4.15 and its 200 day moving average price is $3.98.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) EPS. Analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MQ has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a report on Thursday, May 8th. Barclays lifted their target price on shares of Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. UBS Group lifted their target price on shares of Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.09.

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.