Lazard Asset Management LLC Has $385,000 Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Lazard Asset Management LLC lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQGet Rating) by 20.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 47,535 shares of the company’s stock after selling 12,189 shares during the quarter. Lazard Asset Management LLC’s holdings in Marqeta were worth $385,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Summit Trail Advisors LLC bought a new position in Marqeta during the second quarter worth about $2,367,000. Shell Asset Management Co. bought a new position in Marqeta during the second quarter worth about $158,000. Oppenheimer Asset Management Inc. increased its position in Marqeta by 69.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 21,117 shares of the company’s stock worth $171,000 after acquiring an additional 8,671 shares during the period. Prospera Financial Services Inc increased its position in Marqeta by 3,250.0% during the second quarter. Prospera Financial Services Inc now owns 13,400 shares of the company’s stock worth $109,000 after acquiring an additional 13,000 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in Marqeta during the second quarter worth about $932,000. Institutional investors and hedge funds own 67.04% of the company’s stock.

Marqeta Price Performance

NASDAQ:MQ opened at $6.65 on Friday. The firm’s 50 day simple moving average is $7.20 and its 200 day simple moving average is $8.39. Marqeta, Inc. has a one year low of $6.05 and a one year high of $24.06. The company has a market cap of $3.62 billion, a PE ratio of -18.47 and a beta of 2.19.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MQ. Morgan Stanley lowered their price target on shares of Marqeta from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, November 7th. Wedbush initiated coverage on shares of Marqeta in a research report on Wednesday, September 21st. They set a “neutral” rating and a $8.00 price target on the stock. Citigroup raised their target price on shares of Marqeta to $14.00 in a report on Monday, August 15th. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $10.00 to $8.00 in a report on Monday, October 10th. Finally, Mizuho decreased their target price on shares of Marqeta from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.42.

About Marqeta

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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.

Further Reading

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Institutional Ownership by Quarter for Marqeta (NASDAQ:MQ)

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