Cache Advisors LLC Buys New Position in Marqeta, Inc. (NASDAQ:MQ)

Cache Advisors LLC bought a new stake in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,091 shares of the company’s stock, valued at approximately $129,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MQ. T. Rowe Price Investment Management Inc. purchased a new stake in Marqeta in the fourth quarter valued at approximately $72,879,000. Price T Rowe Associates Inc. MD raised its stake in Marqeta by 5,396.3% in the fourth 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. RPD Fund Management LLC purchased a new position in shares of Marqeta during the fourth quarter worth approximately $37,289,000. Wellington Management Group LLP purchased a new position in shares of Marqeta during the fourth quarter worth approximately $19,717,000. Finally, North Reef Capital Management LP raised its stake in shares of Marqeta by 99.7% during the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after acquiring an additional 3,886,999 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Stock Performance

Shares of Marqeta stock opened at $5.07 on Friday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.00. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 253.50 and a beta of 1.41. The company’s 50 day moving average price is $4.26 and its 200-day moving average price is $4.00.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $139.07 million for the quarter, compared to analysts’ expectations of $135.66 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. As a group, equities research analysts forecast that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MQ. Keefe, Bruyette & Woods lifted their price target on shares of Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. UBS Group lifted their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. raised shares of Marqeta from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.00 to $6.00 in a research note on Monday, May 19th. The Goldman Sachs Group decreased their price target on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays lifted their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.18.

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.