Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 12.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,126,872 shares of the company’s stock after selling 433,868 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.62% of Marqeta worth $11,851,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in shares of Marqeta in the 3rd quarter valued at $57,000. Certuity LLC purchased a new stake in Marqeta in the fourth quarter valued at $44,000. CreativeOne Wealth LLC acquired a new stake in Marqeta during the 3rd quarter worth about $59,000. apricus wealth LLC purchased a new position in shares of Marqeta during the 4th quarter valued at about $51,000. Finally, KBC Group NV lifted its holdings in shares of 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 buying an additional 9,186 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Price Performance

MQ opened at $4.42 on Friday. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.32. The stock has a market capitalization of $2.23 billion, a P/E ratio of 221.00 and a beta of 1.49. The business has a 50 day simple moving average of $3.90 and a 200-day simple moving average of $4.27.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping 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 business had revenue of $135.79 million for the quarter, compared to analyst estimates of $132.71 million. Research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MQ. The Goldman Sachs Group raised their target price on Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Barclays restated an “equal weight” rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company cut their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.33.

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.