Marqeta, Inc. (NASDAQ:MQ) Stake Lessened by Industry Ventures L.L.C.

Industry Ventures L.L.C. reduced its position in Marqeta, Inc. (NASDAQ:MQ) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,145,395 shares of the company’s stock after selling 1,669,769 shares during the quarter. Marqeta makes up about 58.3% of Industry Ventures L.L.C.’s investment portfolio, making the stock its largest holding. Industry Ventures L.L.C. owned approximately 0.99% of Marqeta worth $35,915,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MQ. SVB Wealth LLC purchased a new stake in shares of Marqeta in the fourth quarter worth approximately $70,000. Profund Advisors LLC purchased a new stake in Marqeta during the third quarter worth $62,000. Horizon Family Wealth Inc. acquired a new position in Marqeta in the 3rd quarter worth about $73,000. Yoder Wealth Management Inc. purchased a new position in Marqeta during the fourth quarter valued at $107,000. Finally, Essex Investment Management Co. LLC boosted its holdings in Marqeta by 27.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock worth $92,000 after buying an additional 3,349 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MQ. Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of Marqeta in a report on Wednesday. Barclays increased their price target on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. William Blair restated an “outperform” rating on shares of Marqeta in a research report on Wednesday. Wells Fargo & Company upped their price target on Marqeta from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods upped their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Marqeta Trading Up 0.2 %

NASDAQ:MQ traded up $0.01 during trading hours on Wednesday, reaching $5.84. 11,356,264 shares of the company traded hands, compared to its average volume of 5,122,880. Marqeta, Inc. has a 1 year low of $4.07 and a 1 year high of $7.36. The business’s 50-day moving average price is $5.84 and its two-hundred day moving average price is $6.06. The stock has a market capitalization of $3.00 billion, a P/E ratio of -13.90 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The company’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) EPS. As a group, equities analysts anticipate that Marqeta, Inc. will post -0.35 EPS for the current 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.