Allspring Global Investments Holdings LLC Buys 3,155 Shares of Marqeta, Inc. (NASDAQ:MQ)

Allspring Global Investments Holdings LLC raised its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,670 shares of the company’s stock after purchasing an additional 3,155 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marqeta were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MQ. Congress Asset Management Co. boosted its position in Marqeta by 46.8% in the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after buying an additional 336,349 shares during the last quarter. Nordea Investment Management AB increased its stake in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after acquiring an additional 441,617 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Marqeta in the 3rd quarter valued at approximately $1,466,000. Main Management ETF Advisors LLC purchased a new stake in Marqeta during the third quarter worth about $786,000. Finally, GSA Capital Partners LLP increased its holdings in Marqeta by 671.7% during the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock worth $1,153,000 after purchasing an additional 204,026 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

MQ stock opened at $3.76 on Wednesday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $7.36. The company’s 50 day simple moving average is $3.76 and its 200-day simple moving average is $4.40. The firm has a market capitalization of $1.89 billion, a P/E ratio of 188.00 and a beta of 1.52.

Analysts Set New Price Targets

A number of brokerages have recently commented on MQ. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and cut their target price for the company from $9.00 to $4.00 in a report on Tuesday, November 5th. 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 report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Susquehanna decreased their price objective on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.65.

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.