Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its holdings in Marqeta, Inc. (NASDAQ:MQ) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,861 shares of the company’s stock after selling 6,632 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of Marqeta worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MQ. T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta during the 4th quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Marqeta by 5,396.3% during the fourth 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. RPD Fund Management LLC acquired a new position in Marqeta during the fourth quarter worth about $37,289,000. Wellington Management Group LLP acquired a new stake in Marqeta during the 4th quarter worth about $19,717,000. Finally, North Reef Capital Management LP boosted its holdings in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after buying an additional 3,886,999 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Stock Performance

MQ stock opened at $5.85 on Wednesday. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.01. The company has a market cap of $2.74 billion, a P/E ratio of 58.50 and a beta of 1.54. The company’s 50-day moving average price is $5.51 and its 200 day moving average price is $4.49.

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

Analyst Ratings Changes

A number of research analysts have issued reports on MQ shares. JPMorgan Chase & Co. raised Marqeta from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.00 to $6.00 in a report on Monday, May 19th. Barclays upped their price objective on Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft started coverage on Marqeta in a research report on Thursday, July 17th. They set a “hold” rating and a $6.00 target price for the company. The Goldman Sachs Group dropped their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Finally, UBS Group raised their price objective on Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Marqeta has an average rating of “Hold” and an average target price of $5.55.

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.