Commonwealth Equity Services LLC Grows Stake in Marqeta, Inc. (NASDAQ:MQ)

Commonwealth Equity Services LLC raised its stake in Marqeta, Inc. (NASDAQ:MQGet Rating) by 1,350.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 436,306 shares of the company’s stock after acquiring an additional 406,234 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.08% of Marqeta worth $4,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MQ. Bronson Point Management LLC bought a new stake in shares of Marqeta in the fourth quarter valued at approximately $52,000. CWM LLC bought a new stake in shares of Marqeta in the fourth quarter valued at approximately $54,000. FourThought Financial LLC bought a new stake in shares of Marqeta in the first quarter valued at approximately $51,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Marqeta in the fourth quarter valued at approximately $83,000. Finally, Ahrens Investment Partners LLC raised its position in shares of Marqeta by 536.1% in the first quarter. Ahrens Investment Partners LLC now owns 5,725 shares of the company’s stock valued at $63,000 after purchasing an additional 4,825 shares during the period. 50.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MQ has been the topic of several research reports. Morgan Stanley raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Tuesday, May 24th. Mizuho decreased their target price on shares of Marqeta from $17.00 to $12.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Truist Financial decreased their target price on shares of Marqeta from $20.00 to $16.00 in a report on Thursday, May 12th. Piper Sandler started coverage on shares of Marqeta in a report on Thursday, April 14th. They set an “overweight” rating and a $13.00 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Marqeta in a report on Tuesday, May 3rd. They set an “outperform” rating and a $13.50 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.10.

Marqeta Stock Performance

Shares of Marqeta stock opened at $10.96 on Friday. Marqeta, Inc. has a 52-week low of $6.05 and a 52-week high of $37.90. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of -19.93 and a beta of 2.59. The company has a fifty day moving average of $9.53 and a 200-day moving average of $10.12.

Marqeta (NASDAQ:MQGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Marqeta had a negative net margin of 36.80% and a negative return on equity of 13.49%. The business had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $161.01 million. On average, equities research analysts forecast that Marqeta, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In other Marqeta news, insider Seth R. Weissman sold 100,000 shares of the stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $9.50, for a total transaction of $950,000.00. Following the completion of the sale, the insider now owns 6,157 shares of the company’s stock, valued at approximately $58,491.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Marqeta Profile

(Get Rating)

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.

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Institutional Ownership by Quarter for Marqeta (NASDAQ:MQ)

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