23,027 Shares in Marqeta, Inc. (NASDAQ:MQ) Purchased by Olympiad Research LP

Olympiad Research LP acquired a new position in shares of Marqeta, Inc. (NASDAQ:MQ) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 23,027 shares of the company’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Marqeta by 17,340.0% in the 1st quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after acquiring an additional 4,335 shares during the period. J.Safra Asset Management Corp raised its position in shares of Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the period. Russell Investments Group Ltd. grew its stake in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after buying an additional 9,973 shares in the last quarter. Empowered Funds LLC purchased a new position in Marqeta in the 1st quarter valued at approximately $65,000. Finally, Magnetar Financial LLC bought a new stake in Marqeta during the 2nd quarter valued at $61,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Down 2.3 %

MQ opened at $3.74 on Friday. The stock has a market capitalization of $1.90 billion, a P/E ratio of 187.00 and a beta of 1.73. The stock has a 50-day moving average price of $5.05 and a 200-day moving average price of $5.27. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MQ. Deutsche Bank Aktiengesellschaft lowered Marqeta from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $4.00 in a report on Tuesday. Mizuho cut their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley decreased their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered shares of Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $7.00 to $5.00 in a research report on Tuesday. 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 report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Marqeta currently has a consensus rating of “Hold” and a consensus target price of $6.27.

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.