7,626,595 Shares in Marqeta, Inc. $MQ Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new position in Marqeta, Inc. (NASDAQ:MQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,626,595 shares of the company’s stock, valued at approximately $44,463,000. Arrowstreet Capital Limited Partnership owned about 1.63% of Marqeta at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Marqeta during the 2nd quarter worth $4,057,000. State Board of Administration of Florida Retirement System increased its holdings in Marqeta by 272.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 520,956 shares of the company’s stock worth $3,037,000 after buying an additional 381,016 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Marqeta by 1,224.5% during the second quarter. Russell Investments Group Ltd. now owns 1,897,823 shares of the company’s stock worth $11,064,000 after buying an additional 1,754,539 shares during the last quarter. Prudential Financial Inc. raised its position in Marqeta by 2,245.2% in the second quarter. Prudential Financial Inc. now owns 840,285 shares of the company’s stock worth $4,899,000 after acquiring an additional 804,455 shares during the period. Finally, American Century Companies Inc. boosted its stake in Marqeta by 23.5% in the second quarter. American Century Companies Inc. now owns 963,250 shares of the company’s stock valued at $5,616,000 after acquiring an additional 183,086 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

MQ has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Marqeta from $5.75 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. The Goldman Sachs Group set a $5.00 price objective on Marqeta and gave the company a “sell” rating in a report on Monday, October 13th. Citigroup raised Marqeta to a “hold” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Finally, Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $5.50.

Marqeta Trading Down 1.7%

MQ stock opened at $4.66 on Friday. The firm has a 50 day moving average of $4.79 and a 200-day moving average of $5.44. The firm has a market capitalization of $2.05 billion, a P/E ratio of -58.25 and a beta of 1.48. Marqeta, Inc. has a 12 month low of $3.47 and a 12 month high of $7.04.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Marqeta had a negative net margin of 6.74% and a negative return on equity of 4.22%. The business had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. Marqeta’s revenue was up 27.7% on a year-over-year basis. Sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS 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.