Achmea Investment Management B.V. Sells 1,413 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Achmea Investment Management B.V. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 30.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,241 shares of the company’s stock after selling 1,413 shares during the quarter. Achmea Investment Management B.V.’s holdings in MercadoLibre were worth $5,327,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MELI. First PREMIER Bank bought a new position in MercadoLibre in the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. DSM Capital Partners LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Scarborough Advisors LLC bought a new stake in MercadoLibre during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new stake in MercadoLibre in the 2nd quarter valued at $36,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MELI. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald began coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective for the company. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the company from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Finally, Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Stock Up 4.6 %

Shares of NASDAQ MELI opened at $2,140.10 on Friday. The business’s fifty day moving average price is $1,851.57 and its 200-day moving average price is $1,669.20. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,142.59. The stock has a market capitalization of $108.50 billion, a PE ratio of 95.75, a P/E/G ratio of 1.29 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.