Coatue Management LLC Purchases Shares of 3,004,416 Marqeta, Inc. (NASDAQ:MQ)

Coatue Management LLC purchased a new stake in shares of Marqeta, Inc. (NASDAQ:MQ) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,004,416 shares of the company’s stock, valued at approximately $84,334,000. Coatue Management LLC owned about 0.57% of Marqeta at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Artemis Investment Management LLP bought a new position in shares of Marqeta in the second quarter worth approximately $13,606,000. Liberty Street Advisors Inc. bought a new position in shares of Marqeta in the second quarter worth approximately $25,260,000. Teacher Retirement System of Texas bought a new position in shares of Marqeta in the second quarter worth approximately $281,000. Sei Investments Co. bought a new position in shares of Marqeta in the second quarter worth approximately $538,000. Finally, Full18 Capital LLC bought a new position in shares of Marqeta in the second quarter worth approximately $757,000. Institutional investors and hedge funds own 19.55% of the company’s stock.

Shares of Marqeta stock traded up $0.77 during trading hours on Thursday, reaching $23.23. 46,231 shares of the stock traded hands, compared to its average volume of 2,318,776. The business’s 50 day moving average is $25.69. Marqeta, Inc. has a one year low of $19.78 and a one year high of $32.75.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, August 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.21). The business had revenue of $122.27 million during the quarter, compared to analyst estimates of $98.28 million. On average, equities research analysts forecast that Marqeta, Inc. will post -0.88 EPS for the current fiscal year.

Several analysts recently weighed in on the stock. assumed coverage on shares of Marqeta in a report on Tuesday, July 6th. They issued a “buy” rating and a $36.00 price target on the stock. KeyCorp assumed coverage on shares of Marqeta in a report on Tuesday, July 6th. They issued an “overweight” rating and a $35.00 price target on the stock. Truist assumed coverage on Marqeta in a research report on Wednesday, August 18th. They set a “buy” rating and a $37.00 price objective for the company. Mizuho assumed coverage on Marqeta in a research report on Thursday, June 24th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on Marqeta in a research report on Monday, July 5th. They set a “neutral” rating and a $27.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Marqeta presently has an average rating of “Buy” and a consensus target price of $33.44.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in the various verticals, including commerce disruptors, digital banks, tech giants, and large financial institutions.

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Institutional Ownership by Quarter for Marqeta (NASDAQ:MQ)

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