SEB Asset Management AB Takes $162.58 Million Position in MercadoLibre, Inc. $MELI

SEB Asset Management AB bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 94,029 shares of the company’s stock, valued at approximately $162,578,000. MercadoLibre comprises approximately 0.7% of SEB Asset Management AB’s portfolio, making the stock its 25th biggest holding.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. grew its stake in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Capital International Investors raised its position in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 26.4% during the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after buying an additional 126,294 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Finally, Scotiabank dropped their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

MercadoLibre Trading Down 2.3%

NASDAQ:MELI opened at $1,813.91 on Friday. The company has a market cap of $91.97 billion, a PE ratio of 47.87, a P/E/G ratio of 1.12 and a beta of 1.35. The business’s 50 day moving average is $1,681.90 and its two-hundred day moving average is $1,822.69. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm posted $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

MercadoLibre 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.