Marqeta, Inc. (NASDAQ:MQ) Shares Acquired by State Street Corp

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 Form 13F filing with the SEC. The fund owned 11,199,621 shares of the company’s stock after purchasing an additional 12,223 shares during the quarter. State Street Corp’s holdings in Marqeta were worth $55,102,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Visa Foundation acquired a new stake in shares of Marqeta in the 2nd quarter worth $68,197,000. Alkeon Capital Management LLC grew its holdings in shares of Marqeta by 31.3% in the third 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 period. Bank of New York Mellon Corp increased its position in 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in Marqeta by 5.5% during the second 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 period. Finally, ClariVest Asset Management LLC boosted its holdings in Marqeta by 481.4% in 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 during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Marqeta stock opened at $3.71 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of 185.50 and a beta of 1.54. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The stock has a 50-day simple moving average of $4.42 and a 200-day simple moving average of $4.94.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share 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 during the quarter, compared to analyst estimates of $128.05 million. During the same period in the previous year, the company posted ($0.07) earnings per share. Marqeta’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. William Blair cut Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Barclays reiterated an “equal weight” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a report on Tuesday. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Susquehanna reduced their price target on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and lowered their price objective for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marqeta currently has a consensus rating of “Hold” and an average target price of $6.03.

About Marqeta

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.