Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Marqeta, Inc. (NASDAQ:MQ) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,200,180 shares of the company’s stock after selling 1,191,974 shares during the quarter. Vanguard Group Inc. owned 8.47% of Marqeta worth $264,317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MQ. American Century Companies Inc. increased its position in shares of Marqeta by 85.6% in the 3rd quarter. American Century Companies Inc. now owns 257,467 shares of the company’s stock worth $1,540,000 after purchasing an additional 118,750 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Marqeta in the 3rd quarter worth about $69,000. Comerica Bank bought a new stake in shares of Marqeta in the 3rd quarter worth about $2,916,000. Creative Planning increased its position in shares of Marqeta by 76.5% in the 3rd quarter. Creative Planning now owns 26,198 shares of the company’s stock worth $157,000 after purchasing an additional 11,356 shares during the last quarter. Finally, Horizon Family Wealth Inc. bought a new stake in shares of Marqeta in the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Trading Up 2.8 %

Shares of NASDAQ:MQ opened at $5.96 on Friday. The company has a 50 day moving average of $6.16 and a 200-day moving average of $6.12. The firm has a market cap of $3.06 billion, a P/E ratio of -14.19 and a beta of 1.87. Marqeta, Inc. has a twelve month low of $3.74 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The business had revenue of $118.82 million during the quarter, compared to analyst estimates of $110.80 million. During the same period in the prior year, the business earned ($0.05) earnings per share. The business’s quarterly revenue was down 41.7% on a year-over-year basis. Equities research analysts forecast that Marqeta, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MQ shares. Truist Financial reissued a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. Barclays boosted their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Wells Fargo & Company boosted their price objective on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.58.

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.