Dynamic Technology Lab Private Ltd Purchases Shares of 78,208 Marqeta, Inc. (NASDAQ:MQ)

Dynamic Technology Lab Private Ltd acquired a new position in Marqeta, Inc. (NASDAQ:MQ) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 78,208 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors have also modified their holdings of MQ. Visa Foundation purchased a new stake in Marqeta during the 2nd quarter worth $68,197,000. Bank of New York Mellon Corp lifted its stake in shares of Marqeta by 65.6% during the second 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 boosted its position in shares of Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after buying an additional 389,045 shares during the period. ClariVest Asset Management LLC grew its stake in shares of Marqeta by 481.4% in the second quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock valued at $2,408,000 after buying an additional 363,835 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in shares of Marqeta by 46.8% in the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after buying an additional 336,349 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on MQ. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. Mizuho lowered their price target on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. UBS Group lowered their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. KeyCorp downgraded Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Finally, Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price for the company. in a research note on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Marqeta currently has a consensus rating of “Hold” and an average price target of $6.27.

Marqeta Price Performance

MQ stock opened at $3.88 on Friday. The firm’s 50-day simple moving average is $4.68 and its 200 day simple moving average is $5.08. The stock has a market cap of $1.95 billion, a PE ratio of 194.00 and a beta of 1.73. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $128.05 million. During the same quarter last year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. Equities analysts forecast 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.