Algert Global LLC Acquires 72,316 Shares of Marqeta, Inc. (NASDAQ:MQ)

Algert Global LLC grew its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 35.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,656 shares of the company’s stock after buying an additional 72,316 shares during the period. Algert Global LLC owned 0.05% of Marqeta worth $1,527,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd boosted its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after purchasing an additional 4,335 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after purchasing an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares in the last quarter. Magnetar Financial LLC bought a new position in Marqeta in the 2nd quarter worth about $61,000. Finally, Empowered Funds LLC bought a new position in Marqeta in the 1st quarter worth about $65,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Stock Up 1.0 %

NASDAQ MQ opened at $4.84 on Friday. The company has a fifty day moving average of $5.15 and a two-hundred day moving average of $5.40. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -13.44 and a beta of 1.77. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. Marqeta’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) earnings per share. Equities research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MQ shares. JPMorgan Chase & Co. dropped their price target on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $5.50 target price on shares of Marqeta in a research report on Monday, June 24th. UBS Group decreased their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods decreased their target price on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.11.

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.