Liberty Street Advisors Inc. lessened its stake in shares of Marqeta, Inc. (NASDAQ:MQ – Get Rating) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,514 shares of the company’s stock after selling 20,000 shares during the quarter. Marqeta comprises about 11.5% of Liberty Street Advisors Inc.’s investment portfolio, making the stock its 5th biggest holding. Liberty Street Advisors Inc.’s holdings in Marqeta were worth $1,385,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in shares of Marqeta during the 1st quarter valued at about $38,000. Captrust Financial Advisors acquired a new stake in shares of Marqeta during the 1st quarter valued at $53,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Marqeta during the 2nd quarter worth $51,000. CWM LLC acquired a new position in shares of Marqeta in the 2nd quarter worth $63,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Marqeta by 1,104.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 7,827 shares of the company’s stock worth $63,000 after purchasing an additional 7,177 shares during the period. Institutional investors own 61.35% of the company’s stock.
Marqeta Trading Down 1.5 %
NASDAQ:MQ traded down $0.10 during mid-day trading on Tuesday, reaching $6.49. The stock had a trading volume of 251,767 shares, compared to its average volume of 3,417,851. The business’s 50 day moving average is $6.46 and its 200 day moving average is $7.47. Marqeta, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $14.75.
Marqeta (NASDAQ:MQ – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Marqeta had a negative net margin of 27.90% and a negative return on equity of 12.67%. The company had revenue of $191.62 million for the quarter, compared to analyst estimates of $180.53 million. On average, research analysts forecast that Marqeta, Inc. will post -0.4 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on MQ shares. DA Davidson started coverage on Marqeta in a research report on Wednesday, November 9th. They issued a “neutral” rating and a $7.25 price target for the company. Mizuho dropped their target price on shares of Marqeta from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, December 12th. Wells Fargo & Company reduced their price target on shares of Marqeta from $7.00 to $6.50 and set an “underweight” rating for the company in a research report on Monday, January 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Marqeta from $10.00 to $8.00 in a research report on Monday, October 10th. Finally, KeyCorp reduced their target price on Marqeta from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Marqeta has an average rating of “Moderate Buy” and an average price target of $11.20.
Marqeta Profile
Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.