Marqeta, Inc. (NASDAQ:MQ) Shares Bought by Algert Global LLC

Algert Global LLC raised its stake in Marqeta, Inc. (NASDAQ:MQ) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,677 shares of the company’s stock after purchasing an additional 35,781 shares during the quarter. Algert Global LLC’s holdings in Marqeta were worth $643,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Freestone Grove Partners LP acquired a new position in shares of Marqeta in the 4th quarter valued at $182,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Marqeta by 35.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 101,092 shares of the company’s stock valued at $383,000 after purchasing an additional 26,492 shares during the last quarter. Ion Asset Management Ltd. acquired a new position in shares of Marqeta in the 4th quarter valued at $2,649,000. Northern Trust Corp boosted its holdings in shares of Marqeta by 3.9% in the 4th quarter. Northern Trust Corp now owns 4,301,993 shares of the company’s stock valued at $16,305,000 after purchasing an additional 161,968 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. acquired a new position in shares of Marqeta in the 4th quarter valued at $778,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Marqeta Price Performance

Marqeta stock opened at $4.60 on Monday. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.01. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 230.00 and a beta of 1.41. The firm’s fifty day moving average price is $4.07 and its 200 day moving average price is $4.00.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $135.66 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Marqeta 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.