Samlyn Capital LLC Sells 255,037 Shares of Marqeta, Inc. (NASDAQ:MQ)

Samlyn Capital LLC cut its stake in Marqeta, Inc. (NASDAQ:MQ) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,231,907 shares of the company’s stock after selling 255,037 shares during the quarter. Samlyn Capital LLC owned about 0.82% of Marqeta worth $23,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of 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 purchasing an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp grew its stake in Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after acquiring an additional 5,300 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Marqeta by 7,852.8% during the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock worth $60,000 after purchasing an additional 9,973 shares during the period. Magnetar Financial LLC purchased a new stake in Marqeta in the second quarter worth about $61,000. Finally, Empowered Funds LLC bought a new position in Marqeta in the first quarter worth approximately $65,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MQ. Keefe, Bruyette & Woods cut their target price on Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Monday, July 8th. UBS Group lowered their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group restated a “neutral” rating and set a $5.50 price target on shares of Marqeta in a research note on Monday, June 24th. Susquehanna reaffirmed a “positive” rating and issued a $9.00 price objective on shares of Marqeta in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.11.

Marqeta Stock Up 0.2 %

Shares of MQ stock opened at $5.16 on Tuesday. The stock has a market cap of $2.67 billion, a PE ratio of -14.33 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 business has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $5.45.

Marqeta (NASDAQ:MQ) last posted its earnings results 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 negative net margin of 2.62% and a positive return on equity of 0.51%. The firm had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. During the same period in the previous year, the firm earned ($0.07) EPS. The business’s quarterly revenue was down 45.8% on a year-over-year basis. Sell-side analysts anticipate 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.