IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Position in Marqeta, Inc. (NASDAQ:MQ)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 60.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,953 shares of the company’s stock after buying an additional 8,651 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Marqeta were worth $87,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alkeon Capital Management LLC increased its position in shares of Marqeta by 31.3% during the third quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after acquiring an additional 1,767,845 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Marqeta by 263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock worth $6,499,000 after purchasing an additional 956,992 shares in the last quarter. Barclays PLC raised its stake in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company’s stock worth $4,238,000 after purchasing an additional 597,539 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock valued at $3,265,000 after purchasing an additional 441,617 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in shares of Marqeta by 143.0% during the third quarter. Holocene Advisors LP now owns 522,059 shares of the company’s stock valued at $2,569,000 after buying an additional 307,223 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MQ shares. The Goldman Sachs Group upped their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Barclays restated an “equal weight” rating and set a $4.00 price objective (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Wells Fargo & Company cut their target price on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.33.

Marqeta Stock Down 2.3 %

NASDAQ MQ opened at $4.19 on Friday. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.25. The company has a market capitalization of $2.11 billion, a P/E ratio of 209.50 and a beta of 1.49. The stock’s 50-day moving average price is $3.96 and its 200-day moving average price is $4.25.

Marqeta (NASDAQ:MQ) last released its earnings results on Wednesday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $135.79 million for the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Research analysts anticipate that Marqeta, Inc. will post 0.06 EPS 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.