Summit Trail Advisors LLC Sells 16,947 Shares of Marqeta, Inc. (NASDAQ:MQ)

Summit Trail Advisors LLC trimmed its stake in Marqeta, Inc. (NASDAQ:MQ) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,151 shares of the company’s stock after selling 16,947 shares during the period. Summit Trail Advisors LLC’s holdings in Marqeta were worth $838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised its position in Marqeta by 62.3% during the second quarter. AQR Capital Management LLC now owns 30,805 shares of the company’s stock valued at $169,000 after purchasing an additional 11,821 shares in the last quarter. Creative Planning increased its position in shares of Marqeta by 61.2% during the 2nd quarter. Creative Planning now owns 72,924 shares of the company’s stock valued at $400,000 after purchasing an additional 27,691 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Marqeta by 364.3% during the 3rd quarter. SG Americas Securities LLC now owns 78,495 shares of the company’s stock valued at $386,000 after buying an additional 61,590 shares in the last quarter. ZWJ Investment Counsel Inc. lifted its position in Marqeta by 2.5% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock worth $10,028,000 after buying an additional 49,104 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in Marqeta by 917.2% in the 3rd quarter. nVerses Capital LLC now owns 29,500 shares of the company’s stock worth $145,000 after buying an additional 26,600 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Price Performance

Shares of Marqeta stock opened at $3.74 on Wednesday. Marqeta, Inc. has a 1 year low of $3.37 and a 1 year high of $7.36. The firm’s 50-day moving average is $3.81 and its 200 day moving average is $4.50. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 187.00 and a beta of 1.52.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MQ shares. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 5th. Mizuho dropped their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Susquehanna decreased their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Barclays reissued an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.75.

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.