Marqeta, Inc. (NASDAQ:MQ) Stake Cut by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,674 shares of the company’s stock after selling 25,045 shares during the quarter. Penserra Capital Management LLC owned approximately 0.11% of Marqeta worth $2,645,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after acquiring an additional 3,548 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Marqeta by 0.7% during the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after buying an additional 3,627 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after buying an additional 5,300 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Marqeta by 9.9% in the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after buying an additional 5,481 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Marqeta by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after acquiring an additional 5,515 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MQ. JPMorgan Chase & Co. dropped their price target on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. UBS Group cut their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research note on Tuesday, November 5th. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $7.00 to $5.00 in a research note on Tuesday, November 5th. Finally, Susquehanna decreased their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Marqeta presently has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Trading Down 0.7 %

Shares of MQ stock opened at $4.02 on Tuesday. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.36. The company has a market capitalization of $2.02 billion, a P/E ratio of 201.00 and a beta of 1.73. The stock has a 50 day moving average of $4.78 and a two-hundred day moving average of $5.12.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Sell-side analysts predict 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.