Marqeta, Inc. (NASDAQ:MQ) Shares Sold by FFT Wealth Management LLC

FFT Wealth Management LLC lessened its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,374 shares of the company’s stock after selling 5,000 shares during the period. FFT Wealth Management LLC’s holdings in Marqeta were worth $85,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. lifted its holdings in shares of Marqeta by 46.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after purchasing an additional 336,349 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Marqeta by 107.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 248,968 shares of the company’s stock valued at $1,225,000 after acquiring an additional 128,717 shares during the last quarter. Olympiad Research LP bought a new stake in Marqeta during the third quarter worth approximately $113,000. Atria Investments Inc boosted its stake in shares of Marqeta by 32.7% during the 3rd quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after acquiring an additional 9,235 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Marqeta by 6.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 370,070 shares of the company’s stock valued at $1,821,000 after purchasing an additional 23,729 shares during the period. 78.64% of the stock is currently owned by institutional investors.

Marqeta Stock Down 6.6 %

NASDAQ MQ opened at $3.51 on Thursday. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36. The stock has a market cap of $1.76 billion, a P/E ratio of 175.50 and a beta of 1.52. The company’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $4.40.

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

Wall Street Analyst Weigh In

MQ has been the subject of a number of recent analyst reports. KeyCorp lowered shares of Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Mizuho lowered their price target on Marqeta from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Susquehanna lowered their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Monness Crespi & Hardt downgraded Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target on the stock. in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group lowered their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.65.

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.