Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Tabor Asset Management LP

Tabor Asset Management LP trimmed its position in Marqeta, Inc. (NASDAQ:MQ) by 36.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 283,822 shares of the company’s stock after selling 164,708 shares during the quarter. Tabor Asset Management LP’s holdings in Marqeta were worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Marqeta during the 3rd quarter worth about $57,000. Prana Capital Management LP boosted its stake in shares of Marqeta by 99.2% in the third quarter. Prana Capital Management LP now owns 442,443 shares of the company’s stock worth $2,177,000 after buying an additional 220,369 shares during the last quarter. Holocene Advisors LP grew its holdings in Marqeta by 143.0% during the third quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock worth $2,569,000 after acquiring an additional 307,223 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Marqeta by 69.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 39,234 shares of the company’s stock valued at $193,000 after acquiring an additional 16,033 shares in the last quarter. Finally, PDT Partners LLC boosted its position in Marqeta by 61.5% in the 3rd quarter. PDT Partners LLC now owns 232,847 shares of the company’s stock worth $1,146,000 after purchasing an additional 88,684 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

MQ has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. UBS Group decreased their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $7.00 to $5.00 in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.23.

Marqeta Trading Down 3.6 %

Marqeta stock opened at $3.73 on Friday. The stock has a 50 day moving average of $4.61 and a two-hundred day moving average of $5.04. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 186.50 and a beta of 1.54.

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 the consensus estimate of ($0.05) by ($0.01). The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Marqeta’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. Equities analysts predict that Marqeta, Inc. will post 0.06 earnings per share for the current year.

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.