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

Nordea Investment Management AB increased its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 107.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 851,278 shares of the company’s stock after buying an additional 441,617 shares during the quarter. Nordea Investment Management AB’s holdings in Marqeta were worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Marqeta by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after buying an additional 5,481 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Marqeta by 6.5% in the second quarter. Arizona State Retirement System now owns 116,295 shares of the company’s stock worth $637,000 after acquiring an additional 7,097 shares during the period. American Century Companies Inc. raised its holdings in shares of Marqeta by 197.5% during the second quarter. American Century Companies Inc. now owns 286,013 shares of the company’s stock worth $1,567,000 after purchasing an additional 189,882 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Marqeta by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after purchasing an additional 389,045 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new stake in Marqeta in the second quarter valued at $431,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Stock Down 4.4 %

MQ opened at $3.67 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 183.50 and a beta of 1.52. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36. The company has a 50-day moving average price of $3.90 and a 200 day moving average price of $4.76.

Marqeta (NASDAQ:MQ) last announced its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm 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%. Marqeta’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. As a group, sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna decreased their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a report on Tuesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Marqeta currently has a consensus rating of “Hold” and an average price target of $5.82.

Marqeta 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.