Penserra Capital Management LLC Sells 25,045 Shares of Marqeta, Inc. (NASDAQ:MQ)

Penserra Capital Management LLC trimmed its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 537,674 shares of the company’s stock after selling 25,045 shares during the quarter. Penserra Capital Management LLC’s holdings in Marqeta were worth $2,645,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 1,642,621 shares in the last quarter. Visa Foundation acquired a new stake in Marqeta in the 2nd quarter valued at about $68,197,000. Dimensional Fund Advisors LP increased its position in Marqeta by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock valued at $40,759,000 after acquiring an additional 389,045 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Marqeta by 65.6% in the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after acquiring an additional 1,038,577 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in shares of Marqeta by 2.5% during the third quarter. ZWJ Investment Counsel Inc. now owns 2,038,246 shares of the company’s stock worth $10,028,000 after purchasing an additional 49,104 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective 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. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. Susquehanna lowered their price objective on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. UBS Group dropped their price objective on Marqeta from $8.50 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.27.

Marqeta Stock Down 0.7 %

MQ opened at $4.02 on Tuesday. The company has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $5.12. The stock has a market cap of $2.02 billion, a P/E ratio of 201.00 and a beta of 1.73. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last released its quarterly 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). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities research analysts expect that Marqeta, Inc. will post 0.06 earnings per share for the current fiscal year.

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.