Vanguard Personalized Indexing Management LLC Purchases 3,548 Shares of Marqeta, Inc. (NASDAQ:MQ)

Vanguard Personalized Indexing Management LLC lifted its holdings in Marqeta, Inc. (NASDAQ:MQ) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,883 shares of the company’s stock after acquiring an additional 3,548 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Marqeta were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Capital LLC raised its holdings in shares of Marqeta by 1.2% during the first quarter. Renaissance Capital LLC now owns 307,662 shares of the company’s stock valued at $1,834,000 after purchasing an additional 3,523 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marqeta by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock worth $281,000 after buying an additional 3,979 shares during the period. Covestor Ltd boosted its holdings in Marqeta by 17,340.0% in the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock worth $26,000 after acquiring an additional 4,335 shares in the last quarter. ProShare Advisors LLC grew its stake in Marqeta by 6.6% in the first quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after acquiring an additional 5,257 shares during the period. Finally, J.Safra Asset Management Corp increased its holdings in shares of 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 acquiring an additional 5,300 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on MQ shares. JPMorgan Chase & Co. reduced their price target on shares of Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group lowered their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $5.50 target price on shares of Marqeta in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.11.

Marqeta Stock Performance

NASDAQ MQ opened at $4.98 on Monday. The company has a market capitalization of $2.58 billion, a PE ratio of -13.83 and a beta of 1.78. Marqeta, Inc. has a 52-week low of $4.40 and a 52-week high of $7.36. The company has a 50-day simple moving average of $5.18 and a 200 day simple moving average of $5.42.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. During the same period in the prior year, the company earned ($0.07) earnings per share. Marqeta’s revenue was down 45.8% compared to the same quarter last year. As a group, analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal 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.