Bank of New York Mellon Corp Has $5.17 Million Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Bank of New York Mellon Corp lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 37.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,407 shares of the company’s stock after selling 825,380 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Marqeta worth $5,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after purchasing an additional 3,155 shares during the last quarter. Primecap Management Co. CA lifted its position in Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after buying an additional 3,627 shares in the last quarter. KBC Group NV increased its position in Marqeta by 68.8% in the 4th quarter. KBC Group NV now owns 22,546 shares of the company’s stock valued at $85,000 after acquiring an additional 9,186 shares in the last quarter. Atria Investments Inc lifted its position in shares of Marqeta by 32.7% during the third quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after purchasing an additional 9,235 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Marqeta by 11.2% during the fourth quarter. Handelsbanken Fonder AB now owns 106,100 shares of the company’s stock worth $402,000 after purchasing an additional 10,700 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Up 5.4 %

NASDAQ MQ opened at $4.32 on Tuesday. The firm’s 50 day moving average is $3.85 and its 200-day moving average is $4.28. The company has a market capitalization of $2.18 billion, a PE ratio of 216.00 and a beta of 1.49. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.44.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. As a group, sell-side analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays reissued an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Wells Fargo & Company cut their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Finally, The Goldman Sachs Group upped their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Marqeta presently has a consensus rating of “Hold” and an average target price of $5.33.

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.