MercadoLibre, Inc. $MELI Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,733 shares of the company’s stock after purchasing an additional 23,220 shares during the quarter. MercadoLibre comprises approximately 1.8% of AMF Tjanstepension AB’s investment portfolio, making the stock its 17th biggest position. AMF Tjanstepension AB’s holdings in MercadoLibre were worth $272,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MELI. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter valued at approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. Morgan Stanley lowered their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Finally, Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Transactions at MercadoLibre

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

MercadoLibre Price Performance

MELI stock opened at $1,852.22 on Monday. The business’s 50-day moving average is $1,675.89 and its two-hundred day moving average is $1,826.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market capitalization of $93.91 billion, a P/E ratio of 48.88, a P/E/G ratio of 1.14 and a beta of 1.35. 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 quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the firm posted $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

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.