Bank of New York Mellon Corp Has $5.17 Million Position in Marqeta, Inc. (NASDAQ:MQ)

Bank of New York Mellon Corp cut its stake in Marqeta, Inc. (NASDAQ:MQ) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,407 shares of the company’s stock after selling 825,380 shares during the quarter. Bank of New York Mellon Corp’s holdings in Marqeta were worth $5,171,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MQ. Atria Investments Inc lifted its holdings in Marqeta by 32.7% during the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after purchasing an additional 9,235 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Marqeta by 6.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock worth $1,821,000 after buying an additional 23,729 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Marqeta during the third quarter worth $431,000. Primecap Management Co. CA boosted its position in shares of Marqeta by 0.7% in the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,627 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Marqeta in the third quarter valued at about $1,466,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Barclays reiterated an “equal weight” rating and issued a $4.00 price target (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods cut their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Finally, The Goldman Sachs Group raised their price objective on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Marqeta presently has an average rating of “Hold” and a consensus price target of $5.33.

Marqeta Stock Performance

Shares of MQ opened at $4.32 on Tuesday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.44. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 216.00 and a beta of 1.49. The business’s fifty day moving average is $3.85 and its 200-day moving average is $4.28.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million for the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. As a group, research 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.