Brio Consultants LLC Decreases Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Brio Consultants LLC trimmed its holdings in Marqeta, Inc. (NASDAQ:MQ) by 20.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,932 shares of the company’s stock after selling 6,257 shares during the period. Brio Consultants LLC’s holdings in Marqeta were worth $91,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Marqeta in the second quarter valued at approximately $128,000. AQR Capital Management LLC grew its stake in Marqeta by 62.3% in the 2nd quarter. AQR Capital Management LLC now owns 30,805 shares of the company’s stock worth $169,000 after acquiring an additional 11,821 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock valued at $1,385,000 after acquiring an additional 5,515 shares during the last quarter. Algert Global LLC lifted its stake in shares of Marqeta by 35.0% during the 2nd quarter. Algert Global LLC now owns 278,656 shares of the company’s stock worth $1,527,000 after purchasing an additional 72,316 shares during the period. Finally, Creative Planning boosted its holdings in shares of Marqeta by 61.2% during the second quarter. Creative Planning now owns 72,924 shares of the company’s stock worth $400,000 after purchasing an additional 27,691 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Marqeta Price Performance

Shares of NASDAQ MQ opened at $3.85 on Friday. The business has a 50-day moving average of $3.82 and a 200-day moving average of $4.59. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 192.50 and a beta of 1.52. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (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 analysts’ expectations of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) EPS. Research analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MQ. Mizuho reduced their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of Marqeta from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Susquehanna lowered 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. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Finally, Morgan Stanley lowered their price objective on shares of Marqeta from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.75.

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.