Robeco Institutional Asset Management B.V. Sells 500,000 Shares of Marqeta, Inc. (NASDAQ:MQ)

Robeco Institutional Asset Management B.V. lowered its holdings in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,550,000 shares of the company’s stock after selling 500,000 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Marqeta were worth $11,036,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Marqeta during the first quarter valued at about $38,000. Captrust Financial Advisors bought a new stake in shares of Marqeta in the first quarter valued at approximately $53,000. CWM LLC increased its holdings in Marqeta by 31.2% during the 3rd quarter. CWM LLC now owns 10,222 shares of the company’s stock worth $73,000 after acquiring an additional 2,428 shares during the period. Prelude Capital Management LLC bought a new stake in Marqeta during the 3rd quarter worth approximately $74,000. Finally, Atria Wealth Solutions Inc. bought a new stake in Marqeta during the 2nd quarter worth approximately $81,000. Institutional investors own 61.35% of the company’s stock.

Marqeta Stock Performance

Shares of MQ stock opened at $4.01 on Friday. Marqeta, Inc. has a one year low of $3.93 and a one year high of $12.41. The company’s 50-day moving average is $5.90 and its 200 day moving average is $6.54. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -11.79 and a beta of 1.93.

Marqeta (NASDAQ:MQ – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. Marqeta had a negative net margin of 24.70% and a negative return on equity of 12.19%. The company had revenue of $203.80 million for the quarter, compared to the consensus estimate of $202.67 million. During the same period in the prior year, the firm posted ($0.07) EPS. Marqeta’s revenue for the quarter was up 31.1% on a year-over-year basis. As a group, research analysts predict that Marqeta, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MQ shares. JPMorgan Chase & Co. cut shares of Marqeta from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $6.00 in a research note on Wednesday, March 1st. Sumitomo Mitsui Financial Group raised shares of Marqeta from an “underperform” rating to a “neutral” rating and set a $8.00 price target for the company in a research report on Wednesday, January 18th. KeyCorp dropped their price target on shares of Marqeta from $9.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 1st. Barclays dropped their price target on shares of Marqeta from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Marqeta from $7.00 to $6.50 and set an “underweight” rating for the company in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.22.

Marqeta Profile

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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.