Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its position in Marqeta, Inc. (NASDAQ:MQ) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,434 shares of the company’s stock after selling 4,223 shares during the quarter. Arizona State Retirement System’s holdings in Marqeta were worth $743,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Marqeta by 5.8% in the third quarter. Vanguard Group Inc. now owns 42,892,435 shares of the company’s stock valued at $305,393,000 after purchasing an additional 2,361,729 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Marqeta by 349.7% in the 1st quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock valued at $410,050,000 after buying an additional 28,882,196 shares in the last quarter. BlackRock Inc. grew its position in shares of Marqeta by 2.4% in the 3rd quarter. BlackRock Inc. now owns 30,903,031 shares of the company’s stock valued at $220,029,000 after buying an additional 735,035 shares during the last quarter. FMR LLC raised its stake in Marqeta by 27.1% during 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. Finally, Visa Inc. purchased a new stake in Marqeta in the first quarter valued at $137,389,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MQ. KeyCorp increased their price objective on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Barclays increased their price target on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Monday, February 12th. Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Friday, March 1st. Finally, Monness Crespi & Hardt assumed coverage on Marqeta in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Trading Up 1.5 %

NASDAQ:MQ opened at $5.47 on Friday. The company has a market capitalization of $2.81 billion, a P/E ratio of -13.02 and a beta of 1.84. The firm has a 50-day moving average price of $6.06 and a two-hundred day moving average price of $6.07. Marqeta, Inc. has a twelve month low of $3.74 and a twelve month high of $7.36.

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 the consensus estimate of ($0.09) by $0.01. The company had revenue of $118.82 million during the quarter, compared to the consensus estimate of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. Marqeta’s revenue was down 41.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. On average, equities research analysts predict that Marqeta, Inc. will post -0.35 earnings per share for the current year.

About Marqeta

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.