Sei Investments Co. Has $352,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Sei Investments Co. lessened its stake in Marqeta, Inc. (NASDAQ:MQ) by 44.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,249 shares of the company’s stock after selling 52,016 shares during the period. Sei Investments Co.’s holdings in Marqeta were worth $352,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Covestor Ltd boosted its stake in shares of Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after purchasing an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in Marqeta by 633.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after acquiring an additional 5,300 shares during the period. Russell Investments Group Ltd. raised its position in shares of Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Marqeta in the 1st quarter valued at $65,000. Finally, CreativeOne Wealth LLC bought a new position in shares of Marqeta in the 1st quarter worth $72,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Stock Performance

NASDAQ MQ opened at $4.98 on Friday. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The stock’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $5.35. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -13.83 and a beta of 1.77.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate 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 business had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $121.87 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm’s revenue was down 45.8% on a year-over-year basis. On average, equities research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on MQ shares. UBS Group cut their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Susquehanna restated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a report on Tuesday, August 6th. Wells Fargo & Company upgraded shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Tuesday, June 25th. Keefe, Bruyette & Woods decreased their price target on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, July 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $5.50 price objective on shares of Marqeta in a research note on Monday, June 24th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.11.

Marqeta 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.