Cerity Partners LLC Has $107,000 Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Cerity Partners LLC decreased its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 72.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,313 shares of the company’s stock after selling 40,700 shares during the period. Cerity Partners LLC’s holdings in Marqeta were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Marqeta by 38.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,243 shares of the company’s stock worth $302,000 after acquiring an additional 12,036 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Marqeta by 6.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 220,625 shares of the company’s stock worth $1,540,000 after purchasing an additional 12,498 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Marqeta during the fourth quarter worth $223,000. Handelsinvest Investeringsforvaltning bought a new position in Marqeta during the fourth quarter valued at about $233,000. Finally, Renaissance Capital LLC lifted its position in shares of Marqeta by 24.0% in the fourth quarter. Renaissance Capital LLC now owns 304,139 shares of the company’s stock worth $2,123,000 after buying an additional 58,796 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 0.4 %

MQ opened at $5.55 on Wednesday. The stock has a market cap of $2.85 billion, a PE ratio of -13.21 and a beta of 1.84. Marqeta, Inc. has a 1 year low of $3.74 and a 1 year high of $7.36. The stock’s 50 day simple moving average is $5.94 and its 200-day simple moving average is $6.06.

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

Wall Street Analysts Forecast Growth

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

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.