Blueshift Asset Management LLC Invests $38,000 in Marqeta, Inc. (NASDAQ:MQ)

Blueshift Asset Management LLC purchased a new stake in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, HoldingsChannel reports. The firm purchased 10,067 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds have also added to or reduced their stakes in MQ. Alkeon Capital Management LLC lifted its holdings in Marqeta by 31.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock worth $36,510,000 after purchasing an additional 1,767,845 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Marqeta by 263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,320,893 shares of the company’s stock valued at $6,499,000 after acquiring an additional 956,992 shares in the last quarter. Barclays PLC grew its stake in shares of Marqeta by 226.4% in the third quarter. Barclays PLC now owns 861,414 shares of the company’s stock valued at $4,238,000 after acquiring an additional 597,539 shares in the last quarter. Nordea Investment Management AB increased its position in Marqeta by 107.8% during the fourth quarter. Nordea Investment Management AB now owns 851,278 shares of the company’s stock worth $3,265,000 after acquiring an additional 441,617 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Marqeta by 4.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 8,333,453 shares of the company’s stock worth $41,001,000 after buying an additional 319,661 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MQ. Barclays restated an “equal weight” rating and issued a $4.00 price target (down from $5.00) on shares of Marqeta in a research note on Tuesday, December 17th. The Goldman Sachs Group raised their target price on shares of Marqeta from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut their price objective on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.33.

Marqeta Price Performance

Shares of MQ stock opened at $4.42 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of 221.00 and a beta of 1.49. The business’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $4.26. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.25.

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

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.