29,063 Shares in Marqeta, Inc. (NASDAQ:MQ) Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management purchased a new position in Marqeta, Inc. (NASDAQ:MQ) in the second quarter, Holdings Channel reports. The fund purchased 29,063 shares of the company’s stock, valued at approximately $159,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Marqeta by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after buying an additional 1,642,621 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Marqeta by 27.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock worth $44,216,000 after buying an additional 1,604,223 shares during the last quarter. Capital International Investors lifted its position in shares of Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after buying an additional 4,609,526 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Marqeta by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,305,306 shares of the company’s stock worth $44,015,000 after buying an additional 900,675 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Marqeta during the 4th quarter worth approximately $27,739,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MQ. Wedbush restated a “neutral” rating and set a $6.00 price objective on shares of Marqeta in a research report on Wednesday, May 8th. Monness Crespi & Hardt lifted their target price on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barclays cut their target price on shares of Marqeta from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.11.

Insiders Place Their Bets

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction of $220,118.27. Following the sale, the director now directly owns 19,000 shares of the company’s stock, valued at approximately $103,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.12% of the stock is owned by corporate insiders.

Marqeta Stock Down 0.2 %

Marqeta stock opened at $5.33 on Monday. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The firm’s 50-day simple moving average is $5.33 and its 200 day simple moving average is $5.61. The firm has a market capitalization of $2.76 billion, a PE ratio of -14.81 and a beta of 1.78.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $125.30 million for the quarter, compared to analyst estimates of $121.87 million. During the same period in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was down 45.8% on a year-over-year basis. On average, research analysts expect that Marqeta, Inc. will post 0.06 EPS 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.