California State Teachers Retirement System Has $1.44 Million Position in Marqeta, Inc. (NASDAQ:MQ)

California State Teachers Retirement System increased its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,608 shares of the company’s stock after buying an additional 2,343 shares during the period. California State Teachers Retirement System owned 0.08% of Marqeta worth $1,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Marqeta during the 4th quarter worth $33,000. Covestor Ltd lifted its stake in shares of Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares during the period. Bank of Montreal Can lifted its stake in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Marqeta during the fourth quarter valued at $38,000. Finally, Stifel Financial Corp acquired a new position in Marqeta during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analysts Set New Price Targets

MQ has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut their price objective 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. Barclays increased their price objective 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. JPMorgan Chase & Co. raised Marqeta from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Finally, UBS Group increased their target price on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Marqeta has an average rating of “Hold” and an average price target of $5.18.

Marqeta Stock Performance

Shares of MQ stock opened at $5.47 on Monday. The company has a market capitalization of $2.56 billion, a P/E ratio of 273.50 and a beta of 1.53. The company’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $4.10. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.00.

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

Marqeta Company 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.