Ion Asset Management Ltd. Acquires New Shares in Marqeta, Inc. (NASDAQ:MQ)

Ion Asset Management Ltd. bought a new position in shares of Marqeta, Inc. (NASDAQ:MQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 699,000 shares of the company’s stock, valued at approximately $2,649,000. Marqeta accounts for about 0.2% of Ion Asset Management Ltd.’s holdings, making the stock its 28th biggest holding. Ion Asset Management Ltd. owned 0.14% of Marqeta as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta in the 4th quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD grew its stake in Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock worth $68,862,000 after buying an additional 17,838,535 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Marqeta by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock valued at $41,819,000 after acquiring an additional 318,184 shares during the period. North Reef Capital Management LP raised its holdings in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock valued at $29,513,000 after buying an additional 3,886,999 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Marqeta by 3.7% during the 4th quarter. Invesco Ltd. now owns 5,385,646 shares of the company’s stock valued at $20,412,000 after acquiring an additional 193,590 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $3.97 on Tuesday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.01. The stock has a market capitalization of $2.00 billion, a PE ratio of 198.50 and a beta of 1.42. The firm has a fifty day moving average of $4.03 and a 200-day moving average of $4.07.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on MQ shares. Wells Fargo & Company reduced their target price 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. Keefe, Bruyette & Woods dropped their price target on 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, The Goldman Sachs Group reduced their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.29.

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.