Cubist Systematic Strategies LLC Lowers Position in Marqeta, Inc. (NASDAQ:MQ)

Cubist Systematic Strategies LLC lessened its holdings in Marqeta, Inc. (NASDAQ:MQ) by 44.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 593,502 shares of the company’s stock after selling 478,355 shares during the period. Cubist Systematic Strategies LLC owned 0.12% of Marqeta worth $2,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in Marqeta by 2.5% in the fourth quarter. Arizona State Retirement System now owns 116,397 shares of the company’s stock valued at $441,000 after acquiring an additional 2,860 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Marqeta by 7.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock valued at $174,000 after acquiring an additional 3,155 shares during the last quarter. Xponance Inc. increased its stake in Marqeta by 11.5% in the fourth quarter. Xponance Inc. now owns 34,314 shares of the company’s stock valued at $130,000 after acquiring an additional 3,546 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Marqeta by 8.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 49,615 shares of the company’s stock valued at $188,000 after acquiring an additional 3,938 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Marqeta by 36.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,312 shares of the company’s stock valued at $73,000 after acquiring an additional 5,154 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Marqeta Price Performance

Shares of MQ opened at $4.60 on Monday. Marqeta, Inc. has a one year low of $3.37 and a one year high of $6.01. The company has a 50-day simple moving average of $4.07 and a two-hundred day simple moving average of $4.00. The firm has a market capitalization of $2.32 billion, a PE ratio of 230.00 and a beta of 1.41.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The business had revenue of $139.07 million during the quarter, compared to analyst estimates of $135.66 million. During the same period last year, the business posted ($0.07) earnings per share. Marqeta’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. UBS Group raised their price objective on Marqeta from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price objective on Marqeta from $4.00 to $4.50 and gave the company a “market perform” rating in a research note on Thursday. Finally, The Goldman Sachs Group reduced their price objective on Marqeta from $4.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

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.