Marqeta, Inc. (NASDAQ:MQ) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 38.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,243 shares of the company’s stock after acquiring an additional 12,036 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marqeta were worth $302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Marqeta by 27.1% during the third 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 during the last quarter. Alkeon Capital Management LLC increased its stake in Marqeta by 94.2% during the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock worth $30,828,000 after acquiring an additional 2,500,000 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Marqeta during the third quarter worth about $30,347,000. Northern Trust Corp increased its stake in Marqeta by 0.6% during the third quarter. Northern Trust Corp now owns 4,370,399 shares of the company’s stock worth $26,135,000 after acquiring an additional 25,920 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Marqeta by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,478,600 shares of the company’s stock worth $20,802,000 after buying an additional 88,068 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MQ. Bank of America raised Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Monday, February 12th. Barclays upped their target price on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Monness Crespi & Hardt began coverage on Marqeta in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $7.50 target price for the company. Wells Fargo & Company upped their target price on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, KeyCorp upped their target price on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta currently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Stock Performance

Shares of MQ opened at $5.41 on Friday. The company has a market capitalization of $2.78 billion, a P/E ratio of -12.88 and a beta of 1.84. Marqeta, Inc. has a one year low of $3.74 and a one year high of $7.36. The stock has a 50-day moving average price of $5.98 and a 200 day moving average price of $6.06.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, February 28th. The company reported ($0.08) EPS 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 analyst estimates of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The business’s revenue was down 41.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, equities research analysts forecast that Marqeta, Inc. will post -0.35 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.