Brevan Howard Capital Management LP Trims Stake in Marqeta, Inc. (NASDAQ:MQ)

Brevan Howard Capital Management LP lowered its position in Marqeta, Inc. (NASDAQ:MQ) by 48.5% during the 4th quarter, HoldingsChannel reports. The fund owned 47,096 shares of the company’s stock after selling 44,314 shares during the period. Brevan Howard Capital Management LP’s holdings in Marqeta were worth $178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Marqeta in the 4th quarter worth about $33,000. Blueshift Asset Management LLC purchased a new position in Marqeta in the 4th quarter worth about $38,000. Covestor Ltd increased its stake in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock worth $38,000 after buying an additional 9,290 shares during the period. Bank of Montreal Can increased its stake in Marqeta by 125.6% in the 4th quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after buying an additional 49,243 shares during the period. Finally, Stifel Financial Corp purchased a new position in Marqeta in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MQ has been the topic of several recent research reports. Barclays increased their target price on shares of Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock 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 stock a “market perform” rating in a report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group increased their target price on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Marqeta currently has a consensus rating of “Hold” and a consensus price target of $5.09.

Marqeta Stock Performance

NASDAQ:MQ opened at $4.65 on Tuesday. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $6.01. The stock has a market capitalization of $2.35 billion, a P/E ratio of 232.50 and a beta of 1.41. The company’s 50-day simple moving average is $4.08 and its 200-day simple moving average is $4.00.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share for the quarter, beating 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 business had revenue of $139.07 million for the quarter, compared to analysts’ expectations of $135.66 million. During the same period last year, the business earned ($0.07) EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current 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.