Brighton Jones LLC Has $151,000 Holdings in Marqeta, Inc. (NASDAQ:MQ)

Brighton Jones LLC boosted its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 64.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,575 shares of the company’s stock after buying an additional 8,453 shares during the period. Brighton Jones LLC’s holdings in Marqeta were worth $151,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MQ shares. Wells Fargo & Company raised their target price on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Truist Financial restated a “buy” rating and set a $10.00 price objective (up previously from $9.00) on shares of Marqeta in a research report on Thursday, February 29th. KeyCorp increased their target price on Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Monness Crespi & Hardt started coverage on Marqeta in a report on Tuesday, April 2nd. They set a “buy” rating and a $7.50 price target on the stock. Finally, Barclays raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Marqeta presently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

Marqeta Price Performance

MQ stock opened at $5.51 on Friday. The stock has a 50-day moving average price of $5.89 and a 200-day moving average price of $6.05. Marqeta, Inc. has a 1-year low of $4.06 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, February 28th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $118.82 million during the quarter, compared to the consensus estimate of $110.80 million. Marqeta had a negative return on equity of 13.80% and a negative net margin of 32.97%. The firm’s revenue for the quarter was down 41.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. As a group, equities research analysts forecast 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.