Vanguard Group Inc. Raises Position in Marqeta, Inc. (NASDAQ:MQ)

Vanguard Group Inc. grew its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,793,157 shares of the company’s stock after acquiring an additional 1,592,977 shares during the period. Vanguard Group Inc. owned about 8.91% of Marqeta worth $319,636,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC boosted its stake in Marqeta by 8.8% during the fourth quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock worth $148,000 after acquiring an additional 1,719 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Marqeta by 20.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock worth $114,000 after purchasing an additional 3,310 shares in the last quarter. Mariner LLC grew its stake in shares of Marqeta by 3.9% in the 3rd quarter. Mariner LLC now owns 91,696 shares of the company’s stock worth $548,000 after buying an additional 3,461 shares during the last quarter. Aigen Investment Management LP increased its position in Marqeta by 13.9% during the 4th quarter. Aigen Investment Management LP now owns 31,999 shares of the company’s stock valued at $223,000 after buying an additional 3,904 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Marqeta by 6.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,857 shares of the company’s stock valued at $620,000 after buying an additional 5,306 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Insider Activity

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total value of $220,118.27. Following the completion of the sale, the director now directly owns 19,000 shares in the company, valued at approximately $103,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.12% of the company’s stock.

Marqeta Trading Up 1.7 %

MQ stock opened at $5.48 on Friday. The stock has a market cap of $2.84 billion, a PE ratio of -15.22 and a beta of 1.78. Marqeta, Inc. has a 12 month low of $4.65 and a 12 month high of $7.36. The company has a 50-day moving average price of $5.44 and a 200 day moving average price of $5.94.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The company had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $117.05 million. During the same quarter in the previous year, the business earned ($0.13) EPS. Marqeta’s revenue was down 45.8% compared to the same quarter last year. Sell-side analysts forecast that Marqeta, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MQ shares. Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research note on Tuesday, June 25th. Monness Crespi & Hardt increased their target price on Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $5.50 target price on shares of Marqeta in a report on Monday, June 24th. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of Marqeta in a report on Wednesday, May 8th. Finally, Mizuho reduced their price objective on Marqeta from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

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.