Duality Advisers LP Buys Shares of 48,278 Marqeta, Inc. (NASDAQ:MQ)

Duality Advisers LP acquired a new position in Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 48,278 shares of the company’s stock, valued at approximately $337,000.

Several other institutional investors have also recently made changes to their positions in MQ. FMR LLC raised its stake in Marqeta by 27.1% during the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock valued at $170,169,000 after purchasing an additional 6,058,777 shares during the period. Westfield Capital Management Co. LP purchased a new position in Marqeta during the 3rd quarter valued at approximately $30,347,000. Alkeon Capital Management LLC grew its holdings in Marqeta by 94.2% during the 3rd quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock valued at $30,828,000 after buying an additional 2,500,000 shares in the last quarter. Kettle Hill Capital Management LLC purchased a new position in Marqeta during the 3rd quarter valued at approximately $6,152,000. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Marqeta by 374.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 633,682 shares of the company’s stock worth $3,789,000 after purchasing an additional 500,182 shares during the period. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

MQ opened at $5.41 on Friday. Marqeta, Inc. has a 12 month low of $3.74 and a 12 month high of $7.36. The stock has a fifty day moving average price of $5.98 and a 200-day moving average price of $6.06.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MQ. Barclays lifted their target price on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Monday, February 12th. Wells Fargo & Company boosted their price objective on Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Truist Financial restated a “buy” rating and set a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Marqeta currently has a consensus rating of “Moderate Buy” and an average target price of $7.57.

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.