Atria Investments Inc Purchases 9,235 Shares of Marqeta, Inc. (NASDAQ:MQ)

Atria Investments Inc increased its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 32.7% during the third quarter, HoldingsChannel.com reports. The firm owned 37,485 shares of the company’s stock after buying an additional 9,235 shares during the period. Atria Investments Inc’s holdings in Marqeta were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Visa Foundation purchased a new stake in shares of Marqeta in the 2nd quarter valued at about $68,197,000. Vanguard Group Inc. grew its position in shares of Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after buying an additional 1,642,621 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Marqeta by 65.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after buying an additional 1,038,577 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after buying an additional 389,045 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position in shares of Marqeta by 481.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock worth $2,408,000 after buying an additional 363,835 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Marqeta stock opened at $4.05 on Monday. The stock has a market cap of $2.03 billion, a PE ratio of 202.50 and a beta of 1.73. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.36. The stock has a fifty day moving average of $4.80 and a 200 day moving average of $5.14.

Marqeta (NASDAQ:MQ) last released its quarterly 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 net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lowered their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. 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 note on Tuesday, November 5th. Finally, The Goldman Sachs Group decreased their price target on Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta has an average rating of “Hold” and a consensus target price of $6.27.

About Marqeta

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.