Marqeta, Inc. (NASDAQ:MQ) Shares Purchased by PDT Partners LLC

PDT Partners LLC raised its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 61.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 232,847 shares of the company’s stock after buying an additional 88,684 shares during the quarter. PDT Partners LLC’s holdings in Marqeta were worth $1,146,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its holdings in Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after acquiring an additional 3,548 shares during the last quarter. Primecap Management Co. CA increased its stake in Marqeta by 0.7% in the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after purchasing an additional 3,627 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after buying an additional 5,300 shares during the period. Principal Financial Group Inc. boosted its stake in Marqeta by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after buying an additional 5,481 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after buying an additional 5,515 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of Marqeta stock opened at $3.88 on Monday. The business has a 50-day moving average price of $4.68 and a 200 day moving average price of $5.08. Marqeta, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $7.36. The firm has a market cap of $1.95 billion, a P/E ratio of 194.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $127.90 million during the quarter, compared to the consensus estimate of $128.05 million. Marqeta’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MQ. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Keefe, Bruyette & Woods reduced their target price on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Finally, KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.27.

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.