KLP Kapitalforvaltning AS Takes $343,000 Position in Marqeta, Inc. (NASDAQ:MQ)

KLP Kapitalforvaltning AS acquired a new position in Marqeta, Inc. (NASDAQ:MQ) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 90,500 shares of the company’s stock, valued at approximately $343,000.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Marqeta by 263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after purchasing an additional 956,992 shares during the period. Barclays PLC boosted its stake in shares of Marqeta by 226.4% during the 3rd quarter. Barclays PLC now owns 861,414 shares of the company’s stock valued at $4,238,000 after buying an additional 597,539 shares during the period. Nordea Investment Management AB grew its holdings in shares of Marqeta by 107.8% during the 4th quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after acquiring an additional 441,617 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Marqeta during the 4th quarter valued at $935,000. Finally, Weiss Asset Management LP acquired a new position in shares of Marqeta in the third quarter worth $1,104,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MQ has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reduced their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Barclays reissued an “equal weight” rating and set a $4.00 target price (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group reduced their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Marqeta has a consensus rating of “Hold” and a consensus target price of $5.29.

Marqeta Stock Performance

NASDAQ MQ opened at $3.71 on Friday. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $6.12. The stock has a market cap of $1.87 billion, a PE ratio of 185.50 and a beta of 1.42. The firm has a 50-day simple moving average of $3.99 and a 200 day simple moving average of $4.21.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million during the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Research analysts forecast 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.