159,856 Shares in Marqeta, Inc. (NASDAQ:MQ) Acquired by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC bought a new position in shares of Marqeta, Inc. (NASDAQ:MQ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 159,856 shares of the company’s stock, valued at approximately $786,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MQ. J.Safra Asset Management Corp increased its holdings in shares of Marqeta by 633.2% in the 2nd 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 last quarter. Point72 DIFC Ltd purchased a new stake in shares of Marqeta during the 3rd quarter valued at $57,000. CreativeOne Wealth LLC purchased a new stake in shares of Marqeta during the 3rd quarter valued at $59,000. Magnetar Financial LLC purchased a new stake in shares of Marqeta during the 2nd quarter valued at $61,000. Finally, XTX Topco Ltd purchased a new stake in shares of Marqeta during the 2nd quarter valued at $72,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Up 4.0 %

Shares of MQ opened at $3.88 on Friday. The firm’s 50-day moving average price is $4.56 and its 200-day moving average price is $5.02. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 194.00 and a beta of 1.54. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last announced its 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). The company had revenue of $127.90 million for the quarter, compared to the consensus estimate of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. On average, research analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut shares of Marqeta from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group decreased their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Susquehanna decreased their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Marqeta has a consensus rating of “Hold” and an average price target of $6.23.

About Marqeta

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.