Generali Asset Management SPA SGR Purchases New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Generali Asset Management SPA SGR acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,771 shares of the company’s stock, valued at approximately $4,712,000.

A number of other large investors have also added to or reduced their stakes in the stock. Jennison Associates LLC increased its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the last quarter. State Street Corp increased its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after purchasing an additional 12,000 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $565,306,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Trading Down 4.9 %

Shares of MELI stock opened at $2,002.80 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average price of $1,977.75 and a two-hundred day moving average price of $1,969.35. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a market cap of $101.54 billion, a P/E ratio of 53.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.