Corebridge Financial Inc. Sells 13,501 Shares of Marqeta, Inc. (NASDAQ:MQ)

Corebridge Financial Inc. lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 5.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 235,791 shares of the company’s stock after selling 13,501 shares during the period. Corebridge Financial Inc.’s holdings in Marqeta were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB raised its stake in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after acquiring an additional 441,617 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Marqeta by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock worth $4,305,000 after purchasing an additional 80,161 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in Marqeta during the 3rd quarter valued at about $786,000. XTX Topco Ltd boosted its position in Marqeta by 1,359.0% in the third quarter. XTX Topco Ltd now owns 191,586 shares of the company’s stock valued at $943,000 after buying an additional 178,455 shares in the last quarter. Finally, Xponance Inc. grew its stake in Marqeta by 11.5% during the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock worth $130,000 after buying an additional 3,546 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MQ. Keefe, Bruyette & Woods reduced their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Barclays reaffirmed 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. Wells Fargo & Company decreased their price objective on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and three 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 $5.29.

Marqeta Stock Down 6.1 %

Shares of MQ stock opened at $3.71 on Friday. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.12. The firm has a fifty day moving average of $3.99 and a 200-day moving average of $4.21. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 185.50 and a beta of 1.42.

Marqeta (NASDAQ:MQ) last released its 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 during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. On average, equities analysts expect that Marqeta, Inc. will post 0.06 EPS for the current 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.