Raymond James Financial Inc. Takes $288,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Raymond James Financial Inc. purchased a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75,929 shares of the company’s stock, valued at approximately $288,000.

Several other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock valued at $441,000 after acquiring an additional 2,860 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Marqeta by 7.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock worth $174,000 after purchasing an additional 3,155 shares during the last quarter. KBC Group NV boosted its position in Marqeta by 68.8% during the 4th quarter. KBC Group NV now owns 22,546 shares of the company’s stock valued at $85,000 after purchasing an additional 9,186 shares during the period. Handelsbanken Fonder AB grew its stake in Marqeta by 11.2% during the 4th quarter. Handelsbanken Fonder AB now owns 106,100 shares of the company’s stock worth $402,000 after buying an additional 10,700 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in Marqeta by 12.1% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 105,457 shares of the company’s stock worth $399,000 after buying an additional 11,356 shares during the period. 78.64% of the stock is currently owned by institutional investors.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $3.84 on Friday. The stock’s 50 day moving average price is $3.99 and its 200 day moving average price is $4.16. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 192.00 and a beta of 1.42. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.01.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The business had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. On average, sell-side analysts expect that Marqeta, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays reissued an “equal weight” rating and set a $4.00 price target (down previously from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. The Goldman Sachs Group reduced their target price on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.29.

About Marqeta

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.