Northern Trust Corp Has $16.31 Million Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

Northern Trust Corp boosted its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 3.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,301,993 shares of the company’s stock after buying an additional 161,968 shares during the period. Northern Trust Corp’s holdings in Marqeta were worth $16,305,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in shares of Marqeta during the fourth quarter worth $33,000. Blueshift Asset Management LLC acquired a new position in Marqeta in the 4th quarter worth $38,000. Covestor Ltd boosted its stake in Marqeta by 1,255.4% in the 4th quarter. Covestor Ltd now owns 10,030 shares of the company’s stock worth $38,000 after purchasing an additional 9,290 shares during the period. Bank of Montreal Can increased its holdings in Marqeta by 125.6% during the 4th 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. Finally, Stifel Financial Corp acquired a new stake in shares of Marqeta in the 4th quarter valued at about $41,000. Institutional investors own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MQ. Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Barclays boosted their target price on Marqeta from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group raised their price target on shares of Marqeta from $4.75 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price objective on shares of Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Marqeta from $4.00 to $4.50 and gave the stock a “market perform” rating in a report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Marqeta has an average rating of “Hold” and an average price target of $5.09.

Marqeta Trading Up 1.4%

NASDAQ MQ opened at $4.90 on Thursday. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $6.01. The stock has a 50 day moving average of $4.11 and a 200-day moving average of $4.01. The company has a market cap of $2.47 billion, a PE ratio of 245.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The firm had revenue of $139.07 million for the quarter, compared to analyst estimates of $135.66 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS 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.