Marqeta, Inc. (NASDAQ:MQ) Shares Acquired by Prana Capital Management LP

Prana Capital Management LP boosted its position in Marqeta, Inc. (NASDAQ:MQ) by 99.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 442,443 shares of the company’s stock after acquiring an additional 220,369 shares during the quarter. Prana Capital Management LP’s holdings in Marqeta were worth $2,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MQ. Price T Rowe Associates Inc. MD lifted its stake in shares of Marqeta by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 285,379 shares of the company’s stock worth $1,702,000 after acquiring an additional 14,696 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Marqeta by 316.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 120,251 shares of the company’s stock valued at $659,000 after acquiring an additional 91,354 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in shares of Marqeta by 100.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 120,000 shares of the company’s stock valued at $658,000 after acquiring an additional 60,000 shares in the last quarter. J.Safra Asset Management Corp increased its stake in Marqeta by 633.2% in the 2nd 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. Finally, ZWJ Investment Counsel Inc. increased its stake in Marqeta by 10.0% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 1,989,142 shares of the company’s stock valued at $10,901,000 after buying an additional 180,075 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Trading Down 1.5 %

NASDAQ MQ opened at $3.84 on Wednesday. The company has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $5.06. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36. The company has a market cap of $1.93 billion, a P/E ratio of 192.00 and a beta of 1.54.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results 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). The company 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%. Marqeta’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. Sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MQ shares. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their target price on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Tuesday, November 5th. Mizuho lowered their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, UBS Group lowered their price target on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Marqeta presently has an average rating of “Hold” and a consensus price target of $6.23.

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.