State of New Jersey Common Pension Fund D Grows Stock Position in Marqeta, Inc. (NASDAQ:MQ)

State of New Jersey Common Pension Fund D grew its holdings in Marqeta, Inc. (NASDAQ:MQ) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370,070 shares of the company’s stock after acquiring an additional 23,729 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Marqeta worth $1,821,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MQ. Covestor Ltd raised its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after acquiring an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after purchasing an additional 5,300 shares during the period. Russell Investments Group Ltd. boosted its position in Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after buying an additional 9,973 shares during the last quarter. Magnetar Financial LLC acquired a new position in Marqeta in the 2nd quarter worth approximately $61,000. Finally, Empowered Funds LLC purchased a new position in Marqeta during the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

NASDAQ MQ opened at $3.90 on Tuesday. The stock’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $5.19. The company has a market cap of $1.98 billion, a PE ratio of 195.00 and a beta of 1.73. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36.

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

Analyst Ratings Changes

MQ has been the topic of several recent research reports. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. UBS Group cut their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Susquehanna dropped their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, Mizuho decreased their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.27.

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.