Marqeta, Inc. (NASDAQ:MQ) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,302 shares of the company’s stock after selling 5,001 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Marqeta were worth $70,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Marqeta by 17,340.0% during the first quarter. Covestor Ltd now owns 4,360 shares of the company’s stock valued at $26,000 after acquiring an additional 4,335 shares during the last quarter. J.Safra Asset Management Corp increased its holdings in shares of Marqeta by 633.2% in the second quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock valued at $34,000 after purchasing an additional 5,300 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Marqeta by 7,852.8% in the first quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after purchasing an additional 9,973 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Marqeta in the first quarter valued at approximately $65,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Marqeta in the second quarter valued at approximately $61,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analyst Ratings Changes

MQ has been the subject of several recent research reports. Wells Fargo & Company raised Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Tuesday, June 25th. Susquehanna reaffirmed a “positive” rating and issued a $9.00 price target on shares of Marqeta in a report on Tuesday, August 6th. Keefe, Bruyette & Woods cut their price target on Marqeta from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Marqeta from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $5.50 target price on shares of Marqeta in a research note on Monday, June 24th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.11.

Marqeta Stock Up 1.2 %

MQ opened at $5.21 on Friday. Marqeta, Inc. has a 52 week low of $4.40 and a 52 week high of $7.36. The business has a fifty day simple moving average of $5.11 and a 200-day simple moving average of $5.32. The firm has a market cap of $2.70 billion, a P/E ratio of -14.47 and a beta of 1.77.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Marqeta had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $125.30 million during the quarter, compared to analyst estimates of $121.87 million. During the same period last year, the business posted ($0.07) earnings per share. The company’s quarterly revenue was down 45.8% on a year-over-year basis. Sell-side analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current 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.