Bayesian Capital Management LP Has $867,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Bayesian Capital Management LP trimmed its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,500 shares of the company’s stock after selling 13,900 shares during the quarter. Bayesian Capital Management LP’s holdings in Marqeta were worth $867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Marqeta by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 285,379 shares of the company’s stock valued at $1,702,000 after acquiring an additional 14,696 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Marqeta in the 1st quarter valued at approximately $250,000. Capital International Investors lifted its stake in Marqeta by 203.1% during the first quarter. Capital International Investors now owns 6,878,815 shares of the company’s stock worth $40,998,000 after purchasing an additional 4,609,526 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Marqeta in the 1st quarter valued at $72,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Marqeta by 119.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 307,000 shares of the company’s stock valued at $1,830,000 after purchasing an additional 167,000 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

MQ stock traded up $0.15 during midday trading on Tuesday, hitting $5.47. The stock had a trading volume of 4,336,709 shares, compared to its average volume of 4,928,546. Marqeta, Inc. has a 1-year low of $4.86 and a 1-year high of $7.36. The business has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $5.74.

Marqeta (NASDAQ:MQ) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Marqeta had a negative return on equity of 11.84% and a negative net margin of 32.98%. The firm had revenue of $117.90 million during the quarter, compared to the consensus estimate of $117.05 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 45.8% on a year-over-year basis. On average, analysts expect that Marqeta, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

MQ has been the subject of several recent analyst reports. Wedbush restated a “neutral” rating and set a $6.00 price objective on shares of Marqeta in a research report on Wednesday, May 8th. Monness Crespi & Hardt lifted their price target on shares of Marqeta from $7.50 to $8.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company raised shares of Marqeta from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Tuesday, June 25th. William Blair reiterated an “outperform” rating on shares of Marqeta in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $5.50 price objective on shares of Marqeta in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.13.

Insider Activity at Marqeta

In other Marqeta news, Director Martha Cummings sold 40,241 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $5.47, for a total transaction of $220,118.27. Following the transaction, the director now directly owns 19,000 shares in the company, valued at approximately $103,930. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.12% of the stock is owned by insiders.

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.