SBI Securities Co. Ltd. Invests $935,000 in Marqeta, Inc. (NASDAQ:MQ)

SBI Securities Co. Ltd. purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 246,581 shares of the company’s stock, valued at approximately $935,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in shares of Marqeta by 11.2% during the 4th quarter. Handelsbanken Fonder AB now owns 106,100 shares of the company’s stock valued at $402,000 after acquiring an additional 10,700 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Marqeta by 45.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 538,247 shares of the company’s stock worth $2,040,000 after acquiring an additional 168,177 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Marqeta by 7.6% in 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. Allspring Global Investments Holdings LLC raised its position in shares of Marqeta by 7.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after buying an additional 3,155 shares during the last quarter. Finally, Certuity LLC purchased a new stake in Marqeta during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Down 1.2 %

Shares of MQ stock opened at $4.13 on Tuesday. The firm has a 50 day moving average of $3.79 and a two-hundred day moving average of $4.37. The stock has a market capitalization of $2.07 billion, a PE ratio of 206.50 and a beta of 1.52. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $6.44.

Marqeta (NASDAQ:MQ) last released 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 during the quarter, compared to analysts’ expectations of $132.71 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. Analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MQ has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley lowered their price target on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Barclays restated an “equal weight” rating and set a $4.00 price objective (down from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of 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, November 5th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.33.

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.