Marqeta, Inc. (NASDAQ:MQ) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 393,476 shares of the company’s stock after selling 22,922 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Marqeta worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MQ. FMR LLC grew its stake in shares of Marqeta by 27.1% during the 3rd quarter. FMR LLC now owns 28,456,412 shares of the company’s stock worth $170,169,000 after purchasing an additional 6,058,777 shares during the period. Westfield Capital Management Co. LP acquired a new position in Marqeta during the third quarter worth about $30,347,000. Alkeon Capital Management LLC increased its holdings in Marqeta by 94.2% in the third quarter. Alkeon Capital Management LLC now owns 5,155,103 shares of the company’s stock valued at $30,828,000 after buying an additional 2,500,000 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new stake in shares of Marqeta during the 3rd quarter valued at approximately $6,152,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Marqeta by 374.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 633,682 shares of the company’s stock worth $3,789,000 after acquiring an additional 500,182 shares during the period. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MQ shares. Barclays lifted their price objective on Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Bank of America upgraded shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Monday, February 12th. Monness Crespi & Hardt began coverage on shares of Marqeta in a report on Tuesday, April 2nd. They set a “buy” rating and a $7.50 target price for the company. KeyCorp lifted their target price on shares of Marqeta from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $10.00 price target (up from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.57.

Marqeta Stock Up 3.0 %

Shares of MQ stock opened at $5.57 on Tuesday. Marqeta, Inc. has a one year low of $3.74 and a one year high of $7.36. The company has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.06.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The business had revenue of $118.82 million during the quarter, compared to the consensus estimate of $110.80 million. During the same period in the prior year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was down 41.7% on a year-over-year basis. Equities analysts predict that Marqeta, Inc. will post -0.35 earnings per share 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.