MercadoLibre, Inc. $MELI Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 29.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 418,002 shares of the company’s stock after purchasing an additional 93,854 shares during the quarter. Franklin Resources Inc. owned about 0.82% of MercadoLibre worth $976,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lavaca Capital LLC raised its position in shares of MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares in the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after acquiring an additional 192,071 shares in the last quarter. Flossbach Von Storch SE boosted its holdings in shares of MercadoLibre by 1,669.4% in the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after acquiring an additional 171,449 shares in the last quarter. Finally, Durable Capital Partners LP increased its stake in shares of MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after acquiring an additional 90,026 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.6%

NASDAQ MELI opened at $1,742.09 on Wednesday. MercadoLibre, Inc. has a 12 month low of $1,654.24 and a 12 month high of $2,645.22. The company has a market capitalization of $88.32 billion, a P/E ratio of 44.22, a PEG ratio of 0.89 and a beta of 1.48. The company’s 50 day simple moving average is $2,013.94 and its 200 day simple moving average is $2,130.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $12.61 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director directly owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MELI shares. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Barclays lowered their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,762.00.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.