Westfield Capital Management Co. LP Has $41 Million Holdings in Marqeta, Inc. (NASDAQ:MQ)

Westfield Capital Management Co. LP grew its position in shares of Marqeta, Inc. (NASDAQ:MQ) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,333,453 shares of the company’s stock after buying an additional 319,661 shares during the quarter. Westfield Capital Management Co. LP owned approximately 1.64% of Marqeta worth $41,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MQ. Cerity Partners LLC bought a new position in Marqeta during the third quarter valued at about $1,466,000. Primecap Management Co. CA raised its holdings in 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 acquiring an additional 3,627 shares during the period. Intech Investment Management LLC bought a new position in shares of Marqeta in the third quarter worth about $431,000. MQS Management LLC acquired a new position in shares of Marqeta during the 3rd quarter worth about $96,000. Finally, GSA Capital Partners LLP grew its holdings in Marqeta by 671.7% in the 3rd quarter. GSA Capital Partners LLP now owns 234,401 shares of the company’s stock valued at $1,153,000 after buying an additional 204,026 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

MQ has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of Marqeta from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded Marqeta from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research report on Tuesday, November 5th. Wells Fargo & Company downgraded Marqeta from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $7.00 to $5.00 in a report on Tuesday, November 5th. Susquehanna dropped their target price on Marqeta from $9.00 to $7.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group cut their target price on Marqeta from $5.50 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.27.

Marqeta Price Performance

Shares of NASDAQ:MQ opened at $4.05 on Monday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 202.50 and a beta of 1.73. The company has a 50 day moving average of $4.80 and a 200-day moving average of $5.14. Marqeta, Inc. has a one year low of $3.37 and a one year high of $7.36.

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

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.