UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.58 Million Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 14.1% during the third quarter, HoldingsChannel.com reports. The firm owned 727,046 shares of the company’s stock after selling 119,377 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Marqeta were worth $3,577,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Visa Foundation acquired a new position in shares of Marqeta in the second quarter worth approximately $68,197,000. Bank of New York Mellon Corp lifted its stake in shares of Marqeta by 65.6% in the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after acquiring an additional 1,038,577 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Marqeta by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after acquiring an additional 389,045 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Marqeta by 481.4% in the second quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock worth $2,408,000 after acquiring an additional 363,835 shares during the period. Finally, Congress Asset Management Co. lifted its stake in shares of Marqeta by 46.8% in the third quarter. Congress Asset Management Co. now owns 1,055,681 shares of the company’s stock worth $5,194,000 after acquiring an additional 336,349 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MQ shares. Morgan Stanley cut their price objective on Marqeta from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. The Goldman Sachs Group cut their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Susquehanna dropped their price target on Marqeta from $9.00 to $7.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods dropped their price target on Marqeta from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.23.

Marqeta Stock Down 1.5 %

NASDAQ MQ opened at $4.03 on Friday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 201.50 and a beta of 1.55. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.36. The business has a 50 day moving average price of $4.50 and a 200-day moving average price of $4.98.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS 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 net margin of 2.86% and a return on equity of 1.20%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, equities research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current 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.