Sapient Capital LLC Takes Position in Marqeta, Inc. (NASDAQ:MQ)

Sapient Capital LLC acquired a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,807 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MQ. Avior Wealth Management LLC lifted its stake in shares of Marqeta by 8.8% in the 4th quarter. Avior Wealth Management LLC now owns 21,253 shares of the company’s stock worth $148,000 after purchasing an additional 1,719 shares during the period. Aigen Investment Management LP increased its holdings in Marqeta by 6.7% during the third quarter. Aigen Investment Management LP now owns 28,095 shares of the company’s stock valued at $168,000 after buying an additional 1,763 shares during the last quarter. Arizona State Retirement System raised its position in Marqeta by 1.8% in the third quarter. Arizona State Retirement System now owns 110,657 shares of the company’s stock worth $662,000 after acquiring an additional 1,957 shares during the period. Amalgamated Bank boosted its stake in shares of Marqeta by 4.9% during the 3rd quarter. Amalgamated Bank now owns 51,433 shares of the company’s stock worth $308,000 after acquiring an additional 2,395 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Marqeta by 20.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,144 shares of the company’s stock valued at $114,000 after acquiring an additional 3,310 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

Shares of NASDAQ MQ opened at $5.83 on Wednesday. Marqeta, Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $7.36. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -13.88 and a beta of 1.81. The business’s 50 day moving average price is $5.84 and its 200-day moving average price is $6.06.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Marqeta had a negative net margin of 32.97% and a negative return on equity of 13.80%. The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $117.05 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The business’s revenue for the quarter was down 45.8% on a year-over-year basis. Sell-side analysts predict that Marqeta, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MQ has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Barclays raised their price objective on shares of Marqeta from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Bank of America raised shares of Marqeta from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, February 12th. Monness Crespi & Hardt increased their price target on Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price objective on Marqeta from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Marqeta has a consensus rating of “Moderate Buy” and an average target price of $7.61.

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.