JPMorgan Chase & Co. Increases Holdings in Marqeta, Inc. (NASDAQ:MQ)

JPMorgan Chase & Co. increased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 263.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,320,893 shares of the company’s stock after purchasing an additional 956,992 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Marqeta worth $6,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Marqeta by 8.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after buying an additional 3,548 shares during the last quarter. Primecap Management Co. CA raised its position in Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,627 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Marqeta by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after acquiring an additional 5,515 shares during the period. Atria Investments Inc grew its stake in shares of Marqeta by 32.7% during the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after purchasing an additional 9,235 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Marqeta during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

MQ has been the subject of a number of recent analyst reports. Wells Fargo & Company cut Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.82.

Marqeta Trading Up 1.3 %

Shares of NASDAQ:MQ opened at $3.81 on Thursday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 190.50 and a beta of 1.52. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36. The business has a 50-day moving average price of $3.86 and a 200 day moving average price of $4.73.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Marqeta’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. As a group, equities research analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.