Fmr LLC Sells 813,915 Shares of Marqeta, Inc. (NASDAQ:MQ)

Fmr LLC lessened its stake in Marqeta, Inc. (NASDAQ:MQ) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,285,031 shares of the company’s stock after selling 813,915 shares during the period. Fmr LLC owned about 0.06% of Marqeta worth $158,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its stake in shares of Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after buying an additional 3,548 shares in the last quarter. Primecap Management Co. CA lifted its stake in Marqeta by 0.7% during the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after purchasing an additional 3,627 shares during the period. J.Safra Asset Management Corp boosted its holdings in 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 purchasing an additional 5,300 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Marqeta by 9.9% during the second quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock valued at $332,000 after purchasing an additional 5,481 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after purchasing an additional 5,515 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MQ has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price target on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company downgraded shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $7.00 to $5.00 in a research note on Tuesday, November 5th. Mizuho dropped their target price 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. Keefe, Bruyette & Woods reduced their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Marqeta currently has a consensus rating of “Hold” and a consensus price target of $6.23.

Marqeta Stock Performance

NASDAQ MQ opened at $3.84 on Wednesday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 192.00 and a beta of 1.54. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.36. The stock has a fifty day moving average of $4.66 and a 200-day moving average of $5.06.

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

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.