Westfield Capital Management Co. LP Increases Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Westfield Capital Management Co. LP raised its stake in Marqeta, Inc. (NASDAQ:MQ) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,814,628 shares of the company’s stock after purchasing an additional 739,871 shares during the period. Westfield Capital Management Co. LP owned 1.11% of Marqeta worth $40,586,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Profund Advisors LLC purchased a new position in shares of Marqeta during the third quarter worth approximately $62,000. SVB Wealth LLC purchased a new position in shares of Marqeta during the fourth quarter worth approximately $70,000. Horizon Family Wealth Inc. purchased a new position in shares of Marqeta during the third quarter worth approximately $73,000. Essex Investment Management Co. LLC grew its position in shares of Marqeta by 27.7% during the third quarter. Essex Investment Management Co. LLC now owns 15,433 shares of the company’s stock worth $92,000 after acquiring an additional 3,349 shares during the last quarter. Finally, Yoder Wealth Management Inc. purchased a new position in Marqeta in the 4th quarter valued at $107,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Trading Up 3.7 %

Shares of NASDAQ MQ traded up $0.19 on Friday, reaching $5.38. 6,420,737 shares of the company traded hands, compared to its average volume of 4,799,303. Marqeta, Inc. has a fifty-two week low of $4.59 and a fifty-two week high of $7.36. The company has a 50 day moving average of $5.69 and a 200 day moving average of $6.09. The stock has a market capitalization of $2.79 billion, a PE ratio of -14.94 and a beta of 1.81.

Marqeta (NASDAQ:MQ) last posted its earnings results on Tuesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. The company’s revenue was down 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. As a group, research analysts expect that Marqeta, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MQ. Wells Fargo & Company lifted their price objective on shares of Marqeta from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. William Blair reissued an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Truist Financial reissued a “buy” rating and issued a $10.00 target price (up previously from $9.00) on shares of Marqeta in a report on Thursday, February 29th. Bank of America raised 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. Finally, Monness Crespi & Hardt raised their target price on Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.37.

Marqeta Company 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.