State Street Corp Buys 12,223 Shares of Marqeta, Inc. (NASDAQ:MQ)

State Street Corp lifted its stake in Marqeta, Inc. (NASDAQ:MQ) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,199,621 shares of the company’s stock after acquiring an additional 12,223 shares during the period. State Street Corp owned 2.20% of Marqeta worth $55,102,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Visa Foundation acquired a new position in Marqeta during the 2nd quarter valued at about $68,197,000. Alkeon Capital Management LLC raised its position in shares of Marqeta by 31.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after purchasing an additional 1,767,845 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Marqeta by 65.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after purchasing an additional 1,038,577 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after purchasing an additional 389,045 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its stake in Marqeta by 481.4% during the 2nd quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock valued at $2,408,000 after purchasing an additional 363,835 shares in the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Down 4.6 %

NASDAQ MQ opened at $3.71 on Thursday. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 185.50 and a beta of 1.54. The stock has a 50-day moving average of $4.42 and a 200 day moving average of $4.94. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36.

Marqeta (NASDAQ:MQ) last announced its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $127.90 million for 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% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) EPS. Equities analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company downgraded 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. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Mizuho reduced their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.03.

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.