Handelsbanken Fonder AB Acquires 2,231 Shares of MercadoLibre, Inc. $MELI

Handelsbanken Fonder AB boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,973 shares of the company’s stock after buying an additional 2,231 shares during the quarter. Handelsbanken Fonder AB’s holdings in MercadoLibre were worth $40,692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors lifted its holdings in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital International Investors increased its position in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 during the last quarter. Janus Henderson Group PLC lifted its stake in MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in MercadoLibre by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 459,784 shares of the company’s stock valued at $926,125,000 after buying an additional 12,845 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 6.3%

Shares of NASDAQ:MELI opened at $1,940.00 on Wednesday. The company has a market capitalization of $98.36 billion, a price-to-earnings ratio of 52.76, a P/E/G ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The business’s 50-day moving average is $1,755.07 and its 200-day moving average is $1,792.76. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the company earned $10.31 EPS. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 40.56 earnings per share for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction 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 acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research note on Friday, May 8th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Morgan Stanley reduced their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

About MercadoLibre

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.