SVB Wealth LLC Takes $70,000 Position in Marqeta, Inc. (NASDAQ:MQ)

SVB Wealth LLC acquired a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,050 shares of the company’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MQ. Profund Advisors LLC purchased a new stake in shares of Marqeta during the third quarter worth about $62,000. Horizon Family Wealth Inc. purchased a new stake in shares of Marqeta during the third quarter worth about $73,000. Essex Investment Management Co. LLC boosted its holdings in shares of Marqeta by 27.7% during the third quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock worth $92,000 after purchasing an additional 3,349 shares during the period. IFP Advisors Inc boosted its holdings in shares of Marqeta by 320.1% during the third quarter. IFP Advisors Inc now owns 17,674 shares of the company’s stock worth $106,000 after purchasing an additional 13,467 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Marqeta by 14.9% during the third quarter. Vontobel Holding Ltd. now owns 17,700 shares of the company’s stock worth $106,000 after purchasing an additional 2,300 shares during the period. 78.64% of the stock is owned by institutional investors.

Marqeta Trading Up 4.1 %

NASDAQ:MQ opened at $5.65 on Wednesday. The company has a 50 day simple moving average of $6.03 and a two-hundred day simple moving average of $6.07. The company has a market cap of $2.90 billion, a PE ratio of -13.45 and a beta of 1.84. Marqeta, Inc. has a 12 month low of $3.74 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last issued 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 business had revenue of $118.82 million for the quarter, compared to analysts’ expectations of $110.80 million. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The company’s revenue was down 41.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. Research analysts forecast that Marqeta, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MQ. Monness Crespi & Hardt began coverage on shares of Marqeta in a report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 price objective for the company. KeyCorp raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Wells Fargo & Company raised their price objective on shares of Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Keefe, Bruyette & Woods raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Friday, March 1st. Finally, Barclays lifted their target price on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marqeta presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

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.