Tabor Asset Management LP Decreases Holdings in Marqeta, Inc. (NASDAQ:MQ)

Tabor Asset Management LP lowered its position in Marqeta, Inc. (NASDAQ:MQ) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,822 shares of the company’s stock after selling 164,708 shares during the quarter. Tabor Asset Management LP owned approximately 0.06% of Marqeta worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of MQ. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after purchasing an additional 3,548 shares during the period. Primecap Management Co. CA raised its stake in shares of Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,627 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Marqeta by 633.2% during the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after buying an additional 5,300 shares during the period. Principal Financial Group Inc. increased its stake in shares of Marqeta by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after acquiring an additional 5,481 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Marqeta by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after acquiring an additional 5,515 shares during the period. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MQ. Susquehanna dropped their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. UBS Group cut their target price on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley lowered their price target on Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Marqeta currently has an average rating of “Hold” and an average price target of $6.23.

Marqeta Stock Down 3.6 %

Shares of Marqeta stock opened at $3.73 on Friday. The stock’s fifty day moving average is $4.61 and its two-hundred day moving average is $5.04. The company has a market capitalization of $1.87 billion, a PE ratio of 186.50 and a beta of 1.54. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.36.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data 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). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same quarter last year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

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.