State of Wyoming Has $488,000 Stock Position in Marqeta, Inc. (NASDAQ:MQ)

State of Wyoming reduced its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 29.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 128,890 shares of the company’s stock after selling 54,114 shares during the period. State of Wyoming’s holdings in Marqeta were worth $488,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MQ. Headlands Technologies LLC acquired a new position in shares of Marqeta in the fourth quarter valued at approximately $33,000. Blueshift Asset Management LLC bought a new stake in Marqeta during the 4th quarter worth approximately $38,000. Covestor Ltd increased its position in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares during the period. Bank of Montreal Can raised its stake in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Marqeta during the fourth quarter worth $41,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Price Performance

NASDAQ MQ opened at $5.24 on Tuesday. The stock has a market capitalization of $2.64 billion, a P/E ratio of 262.00 and a beta of 1.41. The business has a 50 day simple moving average of $4.18 and a 200 day simple moving average of $3.98. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.00.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MQ. JPMorgan Chase & Co. upgraded Marqeta from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $5.00 to $6.00 in a report on Monday. The Goldman Sachs Group reduced their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Barclays raised their price objective on Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. UBS Group upped their target price on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.18.

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.