Gilder Gagnon Howe & Co. LLC Lowers Holdings in Marqeta, Inc. (NASDAQ:MQ)

Gilder Gagnon Howe & Co. LLC lowered its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 85.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 834,180 shares of the company’s stock after selling 4,917,177 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 0.17% of Marqeta worth $3,162,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in Marqeta in the fourth quarter valued at $72,879,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Marqeta by 5,396.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,169,103 shares of the company’s stock valued at $68,862,000 after purchasing an additional 17,838,535 shares during the period. Wellington Management Group LLP purchased a new stake in Marqeta during the fourth quarter worth about $19,717,000. North Reef Capital Management LP grew its position in Marqeta by 99.7% during the fourth quarter. North Reef Capital Management LP now owns 7,786,999 shares of the company’s stock worth $29,513,000 after buying an additional 3,886,999 shares during the period. Finally, Norges Bank purchased a new position in Marqeta in the fourth quarter valued at about $8,052,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Marqeta Price Performance

Marqeta stock opened at $3.97 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 198.50 and a beta of 1.42. Marqeta, Inc. has a 12-month low of $3.37 and a 12-month high of $6.01. The firm’s 50-day moving average is $4.03 and its two-hundred day moving average is $4.08.

Marqeta (NASDAQ:MQ) last announced its earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $135.79 million for 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%. As a group, analysts forecast that Marqeta, Inc. will post 0.06 EPS for the current year.

Wall Street Analyst Weigh In

MQ has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group lowered their target price on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a research note on Monday, January 6th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.29.

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.