Y Intercept Hong Kong Ltd Makes New $339,000 Investment in Marqeta, Inc. (NASDAQ:MQ)

Y Intercept Hong Kong Ltd bought a new stake in Marqeta, Inc. (NASDAQ:MQ) in the third quarter, Holdings Channel.com reports. The firm bought 68,803 shares of the company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Visa Foundation acquired a new position in Marqeta during the second quarter worth $68,197,000. Alkeon Capital Management LLC grew its holdings in shares of Marqeta by 31.3% in the third quarter. Alkeon Capital Management LLC now owns 7,420,663 shares of the company’s stock valued at $36,510,000 after purchasing an additional 1,767,845 shares during the period. Bank of New York Mellon Corp increased its position in Marqeta by 65.6% during the second quarter. Bank of New York Mellon Corp now owns 2,620,882 shares of the company’s stock worth $14,362,000 after purchasing an additional 1,038,577 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Marqeta by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after purchasing an additional 389,045 shares during the period. Finally, ClariVest Asset Management LLC boosted its holdings in Marqeta by 481.4% in the 2nd quarter. ClariVest Asset Management LLC now owns 439,420 shares of the company’s stock valued at $2,408,000 after purchasing an additional 363,835 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Marqeta Price Performance

MQ opened at $3.89 on Wednesday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 194.50 and a beta of 1.54. The business has a fifty day moving average price of $4.45 and a 200 day moving average price of $4.95. Marqeta, Inc. has a 12 month low of $3.37 and a 12 month high of $7.36.

Marqeta (NASDAQ:MQ) last released its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.05 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts anticipate that Marqeta, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Susquehanna cut their price target 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. KeyCorp lowered Marqeta from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $7.00 to $5.00 in a research report on Tuesday, November 5th. William Blair cut shares of Marqeta from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 5th. Finally, Monness Crespi & Hardt cut shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.03.

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.