Marqeta, Inc. (NASDAQ:MQ) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Marqeta, Inc. (NASDAQ:MQ) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,515 shares of the company’s stock after selling 3,930 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marqeta were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Marqeta by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock worth $282,717,000 after acquiring an additional 1,642,621 shares during the period. Visa Foundation bought a new position in Marqeta in the 2nd quarter valued at about $68,197,000. Dimensional Fund Advisors LP grew its position in Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after buying an additional 389,045 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Marqeta by 27.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 7,418,851 shares of the company’s stock valued at $44,216,000 after buying an additional 1,604,223 shares in the last quarter. Finally, Capital International Investors grew its position in Marqeta by 203.1% in the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock valued at $40,998,000 after buying an additional 4,609,526 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of MQ opened at $5.85 on Monday. Marqeta, Inc. has a one year low of $4.40 and a one year high of $7.36. The company has a 50-day moving average of $5.13 and a two-hundred day moving average of $5.30. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -292.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Marqeta had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $125.30 million during the quarter, compared to analysts’ expectations of $121.87 million. During the same period last year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. Analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MQ. Keefe, Bruyette & Woods decreased their target price on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price 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 decreased their target price 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. Finally, Susquehanna restated a “positive” rating and set a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Marqeta presently has a consensus rating of “Moderate Buy” and an average target price of $7.11.

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.