Prana Capital Management LP Cuts Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Prana Capital Management LP lessened its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 26.1% in the 4th quarter, HoldingsChannel reports. The fund owned 327,056 shares of the company’s stock after selling 115,387 shares during the period. Prana Capital Management LP’s holdings in Marqeta were worth $1,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Marqeta in the 4th quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD increased its stake in Marqeta by 5,396.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after purchasing an additional 17,838,535 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Marqeta by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock worth $41,819,000 after buying an additional 318,184 shares during the last quarter. North Reef Capital Management LP raised its holdings in shares of Marqeta by 99.7% in the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after buying an additional 3,886,999 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Marqeta by 3.7% during the fourth quarter. Invesco Ltd. now owns 5,385,646 shares of the company’s stock worth $20,412,000 after buying an additional 193,590 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their target price on Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. Barclays raised their price objective on Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday. Wells Fargo & Company dropped their target price on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. UBS Group raised their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group lowered their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marqeta currently has an average rating of “Hold” and a consensus price target of $5.09.

Marqeta Stock Performance

MQ stock opened at $4.90 on Thursday. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The stock has a market capitalization of $2.47 billion, a P/E ratio of 245.00 and a beta of 1.41. The company has a 50 day moving average price of $4.11 and a two-hundred day moving average price of $4.01.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $139.07 million during the quarter, compared to analysts’ expectations of $135.66 million. During the same period in the previous year, the company earned ($0.07) EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Research analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Marqeta Company 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.