87,681 Shares in Marqeta, Inc. (NASDAQ:MQ) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 87,681 shares of the company’s stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its stake in Marqeta by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares during the period. J.Safra Asset Management Corp increased its stake in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the period. Principal Financial Group Inc. lifted its holdings in Marqeta by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock valued at $332,000 after buying an additional 5,481 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after buying an additional 5,515 shares during the period. Finally, Arizona State Retirement System boosted its position in Marqeta by 6.5% in the 2nd quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock valued at $637,000 after buying an additional 7,097 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.90 on Tuesday. The business’s 50 day moving average price is $4.68 and its 200-day moving average price is $5.07. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.36. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 192.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last issued its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. On average, sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Mizuho dropped their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a report on Monday. William Blair downgraded shares of Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 5th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.23.

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.