Xponance Inc. Acquires 3,546 Shares of Marqeta, Inc. (NASDAQ:MQ)

Xponance Inc. grew its holdings in Marqeta, Inc. (NASDAQ:MQ) by 11.5% during the fourth quarter, Holdings Channel reports. The firm owned 34,314 shares of the company’s stock after acquiring an additional 3,546 shares during the quarter. Xponance Inc.’s holdings in Marqeta were worth $130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB grew its holdings in Marqeta by 107.8% in the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after purchasing an additional 441,617 shares during the period. Cerity Partners LLC bought a new position in shares of Marqeta during the 3rd quarter worth about $1,466,000. Congress Asset Management Co. grew its stake in shares of Marqeta by 7.6% in the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock valued at $4,305,000 after buying an additional 80,161 shares during the period. Main Management ETF Advisors LLC acquired a new position in Marqeta during the 3rd quarter worth approximately $786,000. Finally, Holocene Advisors LP boosted its holdings in Marqeta by 143.0% in the third quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock worth $2,569,000 after acquiring an additional 307,223 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 2.3 %

Shares of Marqeta stock opened at $4.19 on Friday. The firm has a market capitalization of $2.11 billion, a P/E ratio of 209.50 and a beta of 1.49. The business’s fifty day simple moving average is $3.96 and its 200 day simple moving average is $4.24. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.25.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company 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%. Analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MQ. The Goldman Sachs Group upped their target price on Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Barclays reaffirmed an “equal weight” rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.33.

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.