Octavia Wealth Advisors LLC Sells 3,521 Shares of Marqeta, Inc. (NASDAQ:MQ)

Octavia Wealth Advisors LLC cut its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 10.9% in the fourth quarter, HoldingsChannel reports. The firm owned 28,670 shares of the company’s stock after selling 3,521 shares during the period. Octavia Wealth Advisors LLC’s holdings in Marqeta were worth $200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alkeon Capital Management LLC raised its position in shares of Marqeta by 94.2% in the 3rd quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after acquiring an additional 2,500,000 shares in the last quarter. FMR LLC raised its position in shares of Marqeta by 27.1% in the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock worth $170,169,000 after acquiring an additional 6,058,777 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Marqeta by 374.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 633,682 shares of the company’s stock worth $3,789,000 after acquiring an additional 500,182 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Marqeta in the 4th quarter worth $233,000. Finally, Mariner LLC raised its position in shares of Marqeta by 3.9% in the 3rd quarter. Mariner LLC now owns 91,696 shares of the company’s stock worth $548,000 after acquiring an additional 3,461 shares in the last quarter. 78.64% of the stock is owned by institutional investors.

Marqeta Stock Performance

Shares of MQ opened at $5.39 on Thursday. Marqeta, Inc. has a 52 week low of $3.74 and a 52 week high of $7.36. The stock’s 50-day moving average price is $6.06 and its 200-day moving average price is $6.07.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MQ. Monness Crespi & Hardt began coverage on Marqeta in a research note on Tuesday, April 2nd. They set a “buy” rating and a $7.50 target price on the stock. Bank of America upgraded Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Monday, February 12th. Keefe, Bruyette & Woods boosted their target price on Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Truist Financial restated 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. Finally, Barclays boosted their target price on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

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.