Swiss National Bank Raises Position in Marqeta, Inc. (NASDAQ:MQ)

Swiss National Bank lifted its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 788,900 shares of the company’s stock after buying an additional 19,100 shares during the period. Swiss National Bank’s holdings in Marqeta were worth $2,990,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Certuity LLC bought a new stake in Marqeta in the 4th quarter worth about $44,000. apricus wealth LLC bought a new position in shares of Marqeta in the fourth quarter valued at approximately $51,000. Point72 DIFC Ltd purchased a new stake in shares of Marqeta during the third quarter valued at approximately $57,000. CreativeOne Wealth LLC bought a new stake in Marqeta during the third quarter worth $59,000. Finally, KBC Group NV boosted its position in Marqeta by 68.8% in the fourth quarter. KBC Group NV now owns 22,546 shares of the company’s stock worth $85,000 after purchasing an additional 9,186 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MQ. Barclays reiterated an “equal weight” rating and set a $4.00 target price (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price objective on shares of 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 decreased their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price objective on Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.33.

Marqeta Stock Performance

Shares of MQ opened at $4.39 on Thursday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.25. The stock’s 50-day simple moving average is $3.94 and its 200 day simple moving average is $4.25. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 219.50 and a beta of 1.49.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. On average, research analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.