PDT Partners LLC Raises Stake in Marqeta, Inc. (NASDAQ:MQ)

PDT Partners LLC raised its position in Marqeta, Inc. (NASDAQ:MQ) by 61.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,847 shares of the company’s stock after purchasing an additional 88,684 shares during the period. PDT Partners LLC’s holdings in Marqeta were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. J.Safra Asset Management Corp raised its position in shares of Marqeta by 633.2% during the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after acquiring an additional 5,300 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Marqeta during the third quarter worth approximately $59,000. Magnetar Financial LLC purchased a new stake in shares of Marqeta during the 2nd quarter worth approximately $61,000. XTX Topco Ltd acquired a new position in shares of Marqeta in the 2nd quarter valued at $72,000. Finally, Castleview Partners LLC purchased a new position in shares of Marqeta in the 3rd quarter valued at $77,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Stock Performance

Shares of MQ opened at $3.88 on Monday. The stock’s 50 day moving average is $4.68 and its two-hundred day moving average is $5.08. Marqeta, Inc. has a twelve month low of $3.37 and a twelve month high of $7.36. The firm has a market capitalization of $1.95 billion, a PE ratio of 194.00 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last announced its quarterly earnings data 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 return on equity of 1.20% and a net margin of 2.86%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) EPS. On average, sell-side analysts predict that Marqeta, Inc. will post 0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Marqeta from $5.50 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. William Blair downgraded Marqeta from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 5th. KeyCorp downgraded Marqeta from an “overweight” rating to a “sector weight” rating in a report on Tuesday, November 5th. UBS Group lowered their target price on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $7.00 to $5.00 in a research note on Tuesday, November 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.27.

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.