ZWJ Investment Counsel Inc. Sells 309,694 Shares of Marqeta, Inc. (NASDAQ:MQ)

ZWJ Investment Counsel Inc. lowered its stake in Marqeta, Inc. (NASDAQ:MQ) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,728,552 shares of the company’s stock after selling 309,694 shares during the period. ZWJ Investment Counsel Inc. owned approximately 0.34% of Marqeta worth $6,551,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of Marqeta by 197.5% during the 2nd quarter. American Century Companies Inc. now owns 286,013 shares of the company’s stock worth $1,567,000 after buying an additional 189,882 shares during the period. Dimensional Fund Advisors LP lifted its position in Marqeta by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,438,277 shares of the company’s stock worth $40,759,000 after acquiring an additional 389,045 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Marqeta by 8.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock valued at $246,000 after acquiring an additional 3,548 shares during the period. XTX Topco Ltd acquired a new stake in shares of Marqeta in the second quarter valued at about $72,000. Finally, Magnetar Financial LLC bought a new position in shares of Marqeta in the second quarter worth about $61,000. Institutional investors own 78.64% of the company’s stock.

Marqeta Trading Down 0.5 %

Shares of Marqeta stock opened at $3.75 on Tuesday. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $7.36. The firm’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $4.68. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 187.50 and a beta of 1.52.

Marqeta (NASDAQ:MQ) last released its quarterly 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). The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, equities research analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MQ shares. Mizuho lowered their target price on Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods dropped their target price on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. KeyCorp downgraded shares of Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. Monness Crespi & Hardt downgraded shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a report on Tuesday, November 5th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.75.

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.