Voya Investment Management LLC Boosts Stake in Marqeta, Inc. (NASDAQ:MQ)

Voya Investment Management LLC increased its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 18.8% in the fourth quarter, Holdings Channel reports. The firm owned 885,348 shares of the company’s stock after buying an additional 140,340 shares during the period. Voya Investment Management LLC’s holdings in Marqeta were worth $3,355,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Marqeta in the fourth quarter valued at $72,879,000. Price T Rowe Associates Inc. MD grew its position in Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after acquiring an additional 17,838,535 shares in the last quarter. Wellington Management Group LLP acquired a new position in Marqeta in the 4th quarter valued at about $19,717,000. Norges Bank purchased a new stake in Marqeta during the fourth quarter worth about $8,052,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Marqeta by 263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after purchasing an additional 956,992 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Finally, Wells Fargo & Company lowered their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.29.

Marqeta Stock Down 2.2 %

MQ stock opened at $4.09 on Friday. The business has a 50 day moving average price of $4.05 and a 200 day moving average price of $4.06. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 204.50 and a beta of 1.42. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.01.

Marqeta (NASDAQ:MQ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $135.79 million for the quarter, compared to the consensus estimate of $132.71 million. As a group, sell-side analysts anticipate that Marqeta, Inc. will post 0.06 EPS 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.