Russell Investments Group Ltd. Purchases 1,754,539 Shares of Marqeta, Inc. $MQ

Russell Investments Group Ltd. boosted its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 1,224.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,897,823 shares of the company’s stock after acquiring an additional 1,754,539 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Marqeta worth $11,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Alpine Global Management LLC purchased a new stake in shares of Marqeta in the 1st quarter worth approximately $42,000. Nisa Investment Advisors LLC increased its holdings in Marqeta by 61.8% during the second quarter. Nisa Investment Advisors LLC now owns 9,787 shares of the company’s stock valued at $57,000 after buying an additional 3,737 shares during the period. AQR Capital Management LLC bought a new position in Marqeta in the first quarter worth approximately $57,000. Abel Hall LLC bought a new position in Marqeta in the second quarter worth approximately $61,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Marqeta during the first quarter worth $62,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Marqeta stock opened at $4.66 on Wednesday. The stock has a market cap of $2.05 billion, a PE ratio of -58.25 and a beta of 1.48. The stock has a 50-day moving average of $4.83 and a two-hundred day moving average of $5.46. Marqeta, Inc. has a one year low of $3.47 and a one year high of $7.04.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Marqeta had a negative return on equity of 4.22% and a negative net margin of 6.74%.The business had revenue of $163.31 million for the quarter, compared to analyst estimates of $148.37 million. The company’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MQ shares. Zacks Research downgraded Marqeta from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marqeta in a research report on Monday. The Goldman Sachs Group set a $5.00 target price on shares of Marqeta and gave the stock a “sell” rating in a report on Monday, October 13th. JPMorgan Chase & Co. increased their price target on shares of Marqeta from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Marqeta from $6.50 to $6.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $5.50.

Marqeta 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.