The Manufacturers Life Insurance Company Lowers Stock Holdings in Marqeta, Inc. (NASDAQ:MQ)

The Manufacturers Life Insurance Company lowered its holdings in shares of Marqeta, Inc. (NASDAQ:MQ) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 245,380 shares of the company’s stock after selling 5,304 shares during the period. The Manufacturers Life Insurance Company’s holdings in Marqeta were worth $930,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MQ. Headlands Technologies LLC purchased a new position in Marqeta during the fourth quarter worth approximately $33,000. Blueshift Asset Management LLC purchased a new position in Marqeta during the fourth quarter worth approximately $38,000. Covestor Ltd raised its holdings in shares of Marqeta by 1,255.4% during the fourth quarter. Covestor Ltd now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 9,290 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Marqeta by 125.6% during the fourth quarter. Bank of Montreal Can now owns 10,030 shares of the company’s stock valued at $38,000 after acquiring an additional 49,243 shares during the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Marqeta during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Stock Performance

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

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

Wall Street Analyst Weigh In

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

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.