Marqeta, Inc. (NASDAQ:MQ) Shares Purchased by Palogic Value Management L.P.

Palogic Value Management L.P. grew its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 45.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 400,000 shares of the company’s stock after acquiring an additional 125,000 shares during the quarter. Palogic Value Management L.P.’s holdings in Marqeta were worth $1,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nordea Investment Management AB increased its stake 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 acquiring an additional 441,617 shares during the period. Cerity Partners LLC acquired a new stake in Marqeta in the third quarter worth approximately $1,466,000. Congress Asset Management Co. boosted its stake in Marqeta by 7.6% during the 4th quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock valued at $4,305,000 after purchasing an additional 80,161 shares in the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of Marqeta in the 3rd quarter worth $786,000. Finally, Holocene Advisors LP lifted its holdings in shares of Marqeta by 143.0% in 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 period. Institutional investors own 78.64% of the company’s stock.

Marqeta Stock Down 1.1 %

NASDAQ:MQ opened at $4.52 on Friday. The company’s 50 day moving average is $3.89 and its 200-day moving average is $4.27. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.44. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 226.00 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

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

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.