Marqeta, Inc. (NASDAQ:MQ) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Marqeta, Inc. (NASDAQ:MQ) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 370,070 shares of the company’s stock after buying an additional 23,729 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Marqeta were worth $1,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Marqeta by 3.6% in the first quarter. Vanguard Group Inc. now owns 47,435,778 shares of the company’s stock valued at $282,717,000 after acquiring an additional 1,642,621 shares during the last quarter. Visa Foundation acquired a new position in shares of Marqeta in the 2nd quarter valued at $68,197,000. Dimensional Fund Advisors LP grew its holdings in shares of Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after purchasing an additional 389,045 shares during the period. Capital International Investors increased its position in shares of Marqeta by 203.1% during the 1st quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Marqeta by 65.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock valued at $14,362,000 after buying an additional 1,038,577 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MQ shares. The Goldman Sachs Group dropped their price target on shares of Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Susquehanna dropped their target price on shares of Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. UBS Group decreased their price target on Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut Marqeta from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $4.00 in a research note on Tuesday, November 5th. Finally, William Blair lowered Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.27.

Marqeta Stock Down 0.8 %

NASDAQ MQ opened at $3.90 on Tuesday. Marqeta, Inc. has a 52 week low of $3.37 and a 52 week high of $7.36. The firm has a 50 day moving average of $4.89 and a two-hundred day moving average of $5.19. The stock has a market capitalization of $1.98 billion, a PE ratio of 195.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last issued its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 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 20.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share 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.