Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 6,090 Shares of MercadoLibre, Inc. $MELI

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 53.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,490 shares of the company’s stock after buying an additional 6,090 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in MercadoLibre were worth $30,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after buying an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares during the period. TIAA Trust National Association lifted its stake in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC boosted its holdings in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its holdings in MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after acquiring an additional 6,200 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,763.36 on Friday. The business’s fifty day moving average is $1,674.97 and its 200 day moving average is $1,832.65. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $89.40 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.09 and a beta of 1.35. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business posted $9.74 EPS. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

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.