Rpo LLC Takes $58,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Rpo LLC purchased a new position in Marqeta, Inc. (NASDAQ:MQ) during the fourth quarter, HoldingsChannel reports. The firm purchased 15,298 shares of the company’s stock, valued at approximately $58,000. Marqeta makes up about 0.1% of Rpo LLC’s investment portfolio, making the stock its 29th largest position.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Marqeta by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 11,031,591 shares of the company’s stock valued at $41,819,000 after acquiring an additional 318,184 shares during the period. Wellington Management Group LLP bought a new position in shares of Marqeta in the 4th quarter worth approximately $19,717,000. Norges Bank purchased a new position in shares of Marqeta in the fourth quarter worth approximately $8,052,000. JPMorgan Chase & Co. boosted its holdings 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 worth $6,499,000 after buying an additional 956,992 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in Marqeta by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 1,135,842 shares of the company’s stock valued at $4,305,000 after buying an additional 80,161 shares during the period. Institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

MQ stock opened at $4.25 on Thursday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 212.50 and a beta of 1.49. Marqeta, Inc. has a 1-year low of $3.37 and a 1-year high of $6.25. The business has a 50 day simple moving average of $3.99 and a two-hundred day simple moving average of $4.22.

Marqeta (NASDAQ:MQ) last issued its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million during the quarter, compared to analyst estimates of $132.71 million. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. Sell-side analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their target price on Marqeta from $5.00 to $4.00 and set a “market perform” rating on the stock in a research report on Monday, January 6th. Barclays restated an “equal weight” rating and issued a $4.00 price target (down previously from $5.00) on shares of Marqeta in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group lowered their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.29.

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.