Robeco Institutional Asset Management B.V. Reduces Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Robeco Institutional Asset Management B.V. lessened its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,350,000 shares of the company’s stock after selling 45,000 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Marqeta were worth $6,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its holdings in Marqeta by 107.0% in the third quarter. Harbor Capital Advisors Inc. now owns 248,968 shares of the company’s stock valued at $1,225,000 after acquiring an additional 128,717 shares during the period. Congress Asset Management Co. lifted its stake in shares of Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock valued at $5,194,000 after purchasing an additional 336,349 shares during the period. Castleview Partners LLC purchased a new stake in Marqeta during the third quarter worth $77,000. nVerses Capital LLC grew its position in Marqeta by 917.2% during the third quarter. nVerses Capital LLC now owns 29,500 shares of the company’s stock valued at $145,000 after buying an additional 26,600 shares during the period. Finally, ZWJ Investment Counsel Inc. increased its holdings in Marqeta by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock valued at $10,028,000 after buying an additional 49,104 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MQ. Susquehanna dropped their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday. Monness Crespi & Hardt cut 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. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Mizuho cut 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. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

Marqeta stock opened at $3.83 on Friday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 193.50 and a beta of 1.73. The firm has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $5.28. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last posted its 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 return on equity of 1.17% and a net margin of 2.86%. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same period last year, the business earned ($0.07) EPS. Marqeta’s revenue was up 20.8% compared to the same quarter last year. Equities analysts expect that Marqeta, Inc. will post 0.06 earnings per share 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.