Global X Japan Co. Ltd. Sells 403 Shares of MercadoLibre, Inc. $MELI

Global X Japan Co. Ltd. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,515 shares of the company’s stock after selling 403 shares during the period. MercadoLibre makes up approximately 1.1% of Global X Japan Co. Ltd.’s holdings, making the stock its 21st largest holding. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $12,888,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MELI. Twin Tree Management LP bought a new position in MercadoLibre during the 1st quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $29,000. Saudi Central Bank bought a new stake in MercadoLibre during the 1st quarter worth about $35,000. McIlrath & Eck LLC increased its position in MercadoLibre by 375.0% in the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after acquiring an additional 15 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its stake in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,995.07 on Wednesday. The stock has a market capitalization of $101.15 billion, a PE ratio of 48.68, a PEG ratio of 1.49 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a one year low of $1,693.01 and a one year high of $2,645.22. The business’s 50 day simple moving average is $2,091.21 and its 200 day simple moving average is $2,283.84.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the prior year, the firm earned $7.83 EPS. The business’s revenue was up 39.5% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock valued at $2,308,788 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Thursday, December 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Wedbush reduced their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,842.94.

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.