Algert Global LLC Boosts Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Algert Global LLC increased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,677 shares of the company’s stock after purchasing an additional 35,781 shares during the period. Algert Global LLC’s holdings in Marqeta were worth $643,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MQ. Congress Asset Management Co. increased its holdings in Marqeta by 7.6% in the fourth 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 in the last quarter. Xponance Inc. increased its holdings in Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after buying an additional 3,546 shares in the last quarter. Mission Creek Capital Partners Inc. purchased a new position in Marqeta in the fourth quarter valued at about $778,000. Quantbot Technologies LP purchased a new position in Marqeta in the fourth quarter valued at about $235,000. Finally, JPMorgan Chase & Co. increased its holdings in Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock valued at $6,499,000 after buying an additional 956,992 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a report on Thursday. UBS Group raised their price objective on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Marqeta Price Performance

Shares of MQ opened at $4.60 on Monday. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.01. The firm has a 50 day simple moving average of $4.07 and a 200-day simple moving average of $4.00. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 230.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same quarter last year, the business earned ($0.07) earnings per share. Marqeta’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.