ZWJ Investment Counsel Inc. Sells 136,195 Shares of Marqeta, Inc. (NASDAQ:MQ)

ZWJ Investment Counsel Inc. trimmed its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,371,278 shares of the company’s stock after selling 136,195 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Marqeta were worth $9,572,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates boosted its stake in shares of Marqeta by 19.6% in the 1st quarter. Raymond James & Associates now owns 26,799 shares of the company’s stock valued at $296,000 after purchasing an additional 4,389 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Marqeta in the 1st quarter valued at $201,000. Citigroup Inc. boosted its stake in shares of Marqeta by 83.2% in the 1st quarter. Citigroup Inc. now owns 42,073 shares of the company’s stock valued at $464,000 after purchasing an additional 19,112 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Marqeta in the 1st quarter valued at $813,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Marqeta in the 1st quarter valued at $800,000. 78.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MQ. Keefe, Bruyette & Woods upped their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research note on Friday, March 1st. Barclays upped their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Monness Crespi & Hardt began coverage on shares of Marqeta in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 price objective on the stock. KeyCorp increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Finally, Truist Financial reissued a “buy” rating and set a $10.00 target price (up from $9.00) on shares of Marqeta in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.57.

Marqeta Stock Down 2.9 %

MQ traded down $0.16 during trading on Friday, hitting $5.31. 3,531,839 shares of the company’s stock were exchanged, compared to its average volume of 5,210,341. The business’s 50 day moving average is $6.05 and its two-hundred day moving average is $6.06. Marqeta, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $7.36. The stock has a market cap of $2.73 billion, a P/E ratio of -12.64 and a beta of 1.84.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The firm had revenue of $118.82 million for the quarter, compared to the consensus estimate of $110.80 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue was down 41.7% on a year-over-year basis. On average, sell-side analysts forecast that Marqeta, Inc. will post -0.35 earnings per share for the current year.

Marqeta Company 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.