Nordea Investment Management AB Increases Stake in Marqeta, Inc. (NASDAQ:MQ)

Nordea Investment Management AB increased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 107.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 851,278 shares of the company’s stock after purchasing an additional 441,617 shares during the period. Nordea Investment Management AB owned approximately 0.17% of Marqeta worth $3,265,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after buying an additional 3,548 shares during the period. Primecap Management Co. CA boosted its holdings in Marqeta by 0.7% during the 3rd 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. Principal Financial Group Inc. grew its position in Marqeta by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock valued at $332,000 after acquiring an additional 5,481 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Marqeta by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after purchasing an additional 5,515 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Marqeta by 6.5% during the second quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock worth $637,000 after purchasing an additional 7,097 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MQ. Barclays restated an “equal weight” rating and issued a $4.00 price target (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Mizuho reduced their target price on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.82.

Marqeta Stock Performance

Shares of Marqeta stock opened at $3.67 on Friday. The company has a market capitalization of $1.84 billion, a PE ratio of 183.50 and a beta of 1.52. The company has a 50-day simple moving average of $3.90 and a two-hundred day simple moving average of $4.76. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.36.

Marqeta (NASDAQ:MQ) last posted 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 firm had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities analysts predict 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.