Moore Capital Management LP Acquires Shares of 3,630,916 Marqeta, Inc. (NASDAQ:MQ)

Moore Capital Management LP acquired a new stake in Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,630,916 shares of the company’s stock, valued at approximately $13,761,000. Moore Capital Management LP owned about 0.72% of Marqeta at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Marqeta in the fourth quarter worth $33,000. Bank of Montreal Can raised its holdings in Marqeta by 125.6% in the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 49,243 shares in the last quarter. Covestor Ltd increased its holdings in shares of Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Marqeta in the 4th quarter worth about $38,000. Finally, Stifel Financial Corp bought a new stake in shares of Marqeta in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

NASDAQ:MQ opened at $4.60 on Monday. The company has a 50-day moving average of $4.07 and a 200 day moving average of $4.00. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.01. The firm has a market cap of $2.32 billion, a PE ratio of 230.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) EPS. Sell-side analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MQ. UBS Group upped their price objective on Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company decreased their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group reduced their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

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.