20,003 Shares in Marqeta, Inc. (NASDAQ:MQ) Bought by Pictet Asset Management SA

Pictet Asset Management SA purchased a new position in Marqeta, Inc. (NASDAQ:MQGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,003 shares of the company’s stock, valued at approximately $162,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in Marqeta by 11.5% in the first quarter. Truist Financial Corp now owns 15,192 shares of the company’s stock worth $167,000 after acquiring an additional 1,566 shares during the period. Oppenheimer Asset Management Inc. lifted 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 valued at $171,000 after buying an additional 8,671 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Marqeta during the second quarter valued at $85,000. Profund Advisors LLC purchased a new position in Marqeta during the second quarter valued at $85,000. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new position in Marqeta during the first quarter valued at $174,000. Hedge funds and other institutional investors own 67.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MQ shares. Wells Fargo & Company lowered Marqeta from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $11.00 to $7.00 in a research report on Thursday, September 8th. Wedbush started coverage on Marqeta in a research report on Wednesday, September 21st. They set a “neutral” rating and a $8.00 price objective for the company. Mizuho lowered their price objective on Marqeta from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Keefe, Bruyette & Woods reduced their price target on Marqeta from $10.00 to $8.00 in a report on Monday, October 10th. Finally, Truist Financial reduced their price target on Marqeta from $16.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

Marqeta Stock Performance

Shares of NASDAQ:MQ opened at $6.56 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -18.22 and a beta of 2.19. The stock’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $8.32. Marqeta, Inc. has a 52-week low of $6.05 and a 52-week high of $22.67.

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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