Geode Capital Management LLC Sells 191,712 Shares of Marqeta, Inc. (NASDAQ:MQ)

Geode Capital Management LLC lowered its holdings in Marqeta, Inc. (NASDAQ:MQ) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,713,407 shares of the company’s stock after selling 191,712 shares during the quarter. Geode Capital Management LLC owned 2.11% of Marqeta worth $52,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of Marqeta during the 3rd quarter valued at $57,000. CreativeOne Wealth LLC bought a new position in shares of Marqeta during the 3rd quarter valued at approximately $59,000. Magnetar Financial LLC purchased a new stake in Marqeta in the 2nd quarter worth approximately $61,000. XTX Topco Ltd bought a new stake in Marqeta during the 2nd quarter worth approximately $72,000. Finally, Castleview Partners LLC purchased a new position in Marqeta during the third quarter valued at approximately $77,000. 78.64% of the stock is owned by institutional investors.

Marqeta Price Performance

NASDAQ MQ opened at $3.75 on Monday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 187.50 and a beta of 1.54. The stock’s fifty day moving average price is $4.37 and its 200 day moving average price is $4.92. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.36.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MQ. JPMorgan Chase & Co. reduced their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. KeyCorp cut Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $4.00 in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.03.

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.