Summit Trail Advisors LLC Has $1.17 Million Holdings in Marqeta, Inc. (NASDAQ:MQ)

Summit Trail Advisors LLC reduced its stake in shares of Marqeta, Inc. (NASDAQ:MQ) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,098 shares of the company’s stock after selling 7,036 shares during the quarter. Summit Trail Advisors LLC’s holdings in Marqeta were worth $1,171,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Marqeta by 8.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,883 shares of the company’s stock worth $246,000 after purchasing an additional 3,548 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Marqeta by 0.7% in the 3rd quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after purchasing an additional 3,627 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Marqeta by 633.2% in the 2nd quarter. J.Safra Asset Management Corp now owns 6,137 shares of the company’s stock worth $34,000 after purchasing an additional 5,300 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Marqeta by 9.9% in the 2nd quarter. Principal Financial Group Inc. now owns 60,636 shares of the company’s stock worth $332,000 after purchasing an additional 5,481 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Marqeta by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,728 shares of the company’s stock worth $1,385,000 after purchasing an additional 5,515 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Marqeta Price Performance

MQ stock opened at $4.05 on Monday. The company has a fifty day moving average price of $4.80 and a two-hundred day moving average price of $5.14. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.36. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 202.50 and a beta of 1.73.

Marqeta (NASDAQ:MQ) last posted its earnings results 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). Marqeta had a return on equity of 1.20% and a net margin of 2.86%. The firm had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.05 million. During the same period in the prior year, the business posted ($0.07) EPS. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. Research analysts anticipate that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MQ shares. William Blair lowered shares of Marqeta from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. UBS Group decreased their price objective on shares of Marqeta from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Monness Crespi & Hardt lowered shares of Marqeta from a “buy” rating to a “neutral” rating and set a $7.50 price objective on the stock. in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered shares of Marqeta from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $4.00 in a report on Tuesday, November 5th. Finally, Mizuho decreased their price objective on shares of Marqeta from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.