78,643 Shares in Marqeta, Inc. (NASDAQ:MQ) Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new stake in Marqeta, Inc. (NASDAQ:MQ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 78,643 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Renaissance Capital LLC lifted its position in shares of Marqeta by 1.2% during the 1st quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock worth $1,834,000 after buying an additional 3,523 shares during the last quarter. Aigen Investment Management LP boosted its stake in Marqeta by 13.9% in the fourth quarter. Aigen Investment Management LP now owns 31,999 shares of the company’s stock valued at $223,000 after acquiring an additional 3,904 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Marqeta by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares in the last quarter. Covestor Ltd increased its position in shares of Marqeta by 17,340.0% during the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after purchasing an additional 4,335 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after purchasing an additional 5,257 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marqeta

In other news, Director Martha Cummings sold 40,241 shares of Marqeta stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.12% of the company’s stock.

Analyst Ratings Changes

MQ has been the topic of a number of research reports. The Goldman Sachs Group restated a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research note on Monday, June 24th. JPMorgan Chase & Co. lowered their target price on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. UBS Group reduced their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Monday, July 8th. Finally, Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Marqeta currently has an average rating of “Moderate Buy” and an average target price of $7.11.

Marqeta Stock Down 0.4 %

Shares of NASDAQ:MQ opened at $5.04 on Thursday. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The company has a 50-day moving average price of $5.22 and a 200 day moving average price of $5.47. The company has a market cap of $2.61 billion, a P/E ratio of -14.00 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $121.87 million. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company’s revenue for the quarter was down 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) earnings per share. Analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Marqeta 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.