Atria Investments Inc Buys 9,235 Shares of Marqeta, Inc. (NASDAQ:MQ)

Atria Investments Inc increased its stake in Marqeta, Inc. (NASDAQ:MQ) by 32.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,485 shares of the company’s stock after purchasing an additional 9,235 shares during the period. Atria Investments Inc’s holdings in Marqeta were worth $184,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of MQ. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares during the last quarter. J.Safra Asset Management Corp grew 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 last quarter. Principal Financial Group Inc. grew its holdings in shares of Marqeta by 9.9% during the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after purchasing an additional 5,481 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Marqeta by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after purchasing an additional 5,515 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Marqeta by 6.5% during the second quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock worth $637,000 after purchasing an additional 7,097 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MQ has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $7.00 to $5.00 in a research note on Tuesday, November 5th. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Marqeta has an average rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Up 2.3 %

Shares of NASDAQ:MQ opened at $4.05 on Monday. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 202.50 and a beta of 1.73. The stock’s 50 day moving average is $4.80 and its 200-day moving average is $5.14. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36.

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

About Marqeta

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.