Teacher Retirement System of Texas Buys New Stake in Marqeta, Inc. (NASDAQ:MQ)

Teacher Retirement System of Texas purchased a new position in shares of Marqeta, Inc. (NASDAQ:MQ) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,131 shares of the company’s stock, valued at approximately $252,000.

A number of other large investors also recently made changes to their positions in MQ. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta in the 4th quarter valued at $72,879,000. Price T Rowe Associates Inc. MD increased its holdings in 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 in the last quarter. Geode Capital Management LLC increased its holdings in 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 in the last quarter. RPD Fund Management LLC acquired a new stake in Marqeta in the 4th quarter valued at $37,289,000. Finally, North Reef Capital Management LP grew its stake in shares of Marqeta by 99.7% during the fourth 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. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Marqeta in a report on Thursday. They issued a “hold” rating and a $6.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Marqeta from $4.50 to $6.50 and gave the company a “market perform” rating in a report on Wednesday, July 9th. The Goldman Sachs Group cut their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. UBS Group lifted their price target on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Barclays lifted their price target on Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.55.

Marqeta Price Performance

Marqeta stock opened at $5.73 on Friday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 57.30 and a beta of 1.54. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.01. The firm has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $4.49.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a net margin of 10.43% and a return on equity of 5.11%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, sell-side analysts expect 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.