Marqeta, Inc. (NASDAQ:MQ) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 44.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,579 shares of the company’s stock after acquiring an additional 20,909 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marqeta were worth $287,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MQ. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Marqeta in the 4th quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD boosted its position 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 period. Geode Capital Management LLC boosted its position in shares of Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock valued at $41,819,000 after purchasing an additional 318,184 shares during the period. RPD Fund Management LLC acquired a new stake in shares of Marqeta in the 4th quarter valued at about $37,289,000. Finally, North Reef Capital Management LP boosted its position in shares of Marqeta by 99.7% in 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 purchasing an additional 3,886,999 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $5.71 on Friday. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The business’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $4.41. The stock has a market cap of $2.67 billion, a PE ratio of 57.10 and a beta of 1.54.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Marqeta had a return on equity of 5.11% and a net margin of 10.43%. The business had revenue of $139.07 million for the quarter, compared to analysts’ expectations of $135.66 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays upped their price objective on Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. UBS Group upped their price objective on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on Marqeta from $4.50 to $6.50 and gave the company a “market perform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Marqeta from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.00 to $6.00 in a research note on Monday, May 19th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.36.

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.