AQR Capital Management LLC Increases Stock Position in Marqeta, Inc. (NASDAQ:MQ)

AQR Capital Management LLC boosted its stake in Marqeta, Inc. (NASDAQ:MQ) by 62.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,805 shares of the company’s stock after purchasing an additional 11,821 shares during the quarter. AQR Capital Management LLC’s holdings in Marqeta were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares in the last quarter. Visa Foundation bought a new stake in shares of Marqeta during the 2nd quarter valued at $68,197,000. Dimensional Fund Advisors LP boosted its holdings in shares of Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after buying an additional 1,604,223 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after buying an additional 4,609,526 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $5.21 on Friday. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -14.47 and a beta of 1.77. The business has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $5.32. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36.

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

Analyst Upgrades and Downgrades

MQ has been the subject of several research reports. Keefe, Bruyette & Woods reduced 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 report on Monday, July 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. JPMorgan Chase & Co. reduced their target price on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a report on Tuesday, June 25th. Finally, Susquehanna reissued a “positive” rating and issued a $9.00 target price on shares of Marqeta in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $7.11.

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.