Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Fmr LLC

Fmr LLC lessened its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 2.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 32,285,031 shares of the company’s stock after selling 813,915 shares during the quarter. Fmr LLC owned about 6.35% of Marqeta worth $158,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Congress Asset Management Co. increased its stake in shares of Marqeta by 46.8% during the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after acquiring an additional 336,349 shares during the period. Visa Foundation bought a new stake in shares of Marqeta in the 2nd quarter worth $68,197,000. GSA Capital Partners LLP lifted its holdings in shares of Marqeta by 671.7% in the third quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after buying an additional 204,026 shares during the period. American Century Companies Inc. boosted its stake in Marqeta by 197.5% during the second quarter. American Century Companies Inc. now owns 286,013 shares of the company’s stock valued at $1,567,000 after buying an additional 189,882 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in Marqeta by 481.4% during the second quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock worth $2,408,000 after acquiring an additional 363,835 shares during the period. Institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the subject of several research reports. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Mizuho cut their price objective on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Finally, UBS Group reduced their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.23.

Marqeta Trading Down 1.5 %

Shares of NASDAQ:MQ opened at $3.84 on Wednesday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 192.00 and a beta of 1.54. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.36. The business has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $5.06.

Marqeta (NASDAQ:MQ) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current 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.