Two Sigma Investments LP Purchases 292,698 Shares of Marqeta, Inc. (NASDAQ:MQ)

Two Sigma Investments LP lifted its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,458,087 shares of the company’s stock after buying an additional 292,698 shares during the period. Two Sigma Investments LP’s holdings in Marqeta were worth $13,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Marqeta during the fourth quarter valued at about $72,879,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Marqeta by 5,396.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after acquiring an additional 17,838,535 shares during the last quarter. RPD Fund Management LLC bought a new stake in shares of Marqeta in the 4th quarter valued at about $37,289,000. Wellington Management Group LLP purchased a new stake in Marqeta during the 4th quarter valued at about $19,717,000. Finally, North Reef Capital Management LP grew its position in Marqeta by 99.7% during the 4th quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after acquiring an additional 3,886,999 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MQ. The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on shares of Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a report on Thursday, May 8th. Barclays raised their price target on shares of Marqeta from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. UBS Group upped their price objective on shares of Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. upgraded shares of Marqeta from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $5.00 to $6.00 in a report on Monday, May 19th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Marqeta has an average rating of “Hold” and an average target price of $5.18.

Marqeta Trading Down 2.5%

NASDAQ:MQ opened at $5.07 on Friday. The company has a 50-day moving average price of $4.26 and a 200-day moving average price of $4.00. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 253.50 and a beta of 1.41. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.00.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $139.07 million during the quarter, compared to the consensus estimate of $135.66 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. Marqeta’s revenue was up 17.9% on a year-over-year basis. Equities analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

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.