Westfield Capital Management Co. LP Has $44.22 Million Stock Position in Marqeta, Inc. (NASDAQ:MQ)

Westfield Capital Management Co. LP boosted its position in Marqeta, Inc. (NASDAQ:MQ) by 27.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,418,851 shares of the company’s stock after purchasing an additional 1,604,223 shares during the period. Westfield Capital Management Co. LP owned about 1.44% of Marqeta worth $44,216,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. ProShare Advisors LLC raised its holdings in Marqeta by 6.6% in the 1st quarter. ProShare Advisors LLC now owns 84,785 shares of the company’s stock valued at $505,000 after acquiring an additional 5,257 shares during the period. Russell Investments Group Ltd. raised its holdings in Marqeta by 7,852.8% in the 1st quarter. Russell Investments Group Ltd. now owns 10,100 shares of the company’s stock valued at $60,000 after acquiring an additional 9,973 shares during the period. Swiss National Bank raised its holdings in Marqeta by 4.6% in the 1st quarter. Swiss National Bank now owns 784,700 shares of the company’s stock valued at $4,677,000 after acquiring an additional 34,300 shares during the period. Empowered Funds LLC bought a new position in Marqeta in the 1st quarter valued at about $65,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Marqeta by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,222 shares of the company’s stock valued at $281,000 after acquiring an additional 3,979 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Martha Cummings sold 40,241 shares of Marqeta stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $5.47, for a total transaction of $220,118.27. Following the completion of the transaction, the director now owns 19,000 shares of the company’s stock, valued at $103,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MQ shares. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Tuesday, June 25th. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of Marqeta in a report on Wednesday, May 8th. Monness Crespi & Hardt raised their target price on shares of Marqeta from $7.50 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Marqeta from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marqeta currently has a consensus rating of “Moderate Buy” and an average target price of $7.13.

Marqeta Trading Down 1.9 %

Marqeta stock traded down $0.10 during mid-day trading on Friday, reaching $5.17. The company had a trading volume of 2,973,225 shares, compared to its average volume of 5,218,709. Marqeta, Inc. has a fifty-two week low of $4.86 and a fifty-two week high of $7.36. The company has a market cap of $2.68 billion, a P/E ratio of -14.36 and a beta of 1.78. The business has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $5.79.

Marqeta (NASDAQ:MQ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $117.90 million for the quarter, compared to analyst estimates of $117.05 million. Marqeta had a negative net margin of 32.98% and a negative return on equity of 11.84%. Marqeta’s revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Research analysts forecast that Marqeta, Inc. will post 0.01 EPS for the current year.

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.