Algert Global LLC Has $659,000 Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Algert Global LLC decreased its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 51.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,896 shares of the company’s stock after selling 144,760 shares during the period. Algert Global LLC’s holdings in Marqeta were worth $659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Marqeta by 7,852.8% during the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after buying an additional 9,973 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Marqeta in the first quarter valued at approximately $250,000. Price T Rowe Associates Inc. MD lifted its position in shares of Marqeta by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 285,379 shares of the company’s stock worth $1,702,000 after purchasing an additional 14,696 shares in the last quarter. Comerica Bank boosted its holdings in Marqeta by 27.8% during the first quarter. Comerica Bank now owns 1,007,954 shares of the company’s stock worth $6,007,000 after purchasing an additional 219,001 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Marqeta by 316.1% in the second quarter. Harbor Capital Advisors Inc. now owns 120,251 shares of the company’s stock valued at $659,000 after purchasing an additional 91,354 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.88 on Friday. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $7.36. The business has a 50 day moving average of $4.71 and a 200-day moving average of $5.10. The stock has a market cap of $1.95 billion, a PE ratio of 194.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MQ has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Monness Crespi & Hardt cut Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 5th. UBS Group decreased their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. KeyCorp downgraded Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Finally, 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 report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.27.

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.