296,409 Shares in MercadoLibre, Inc. $MELI Bought by Norges Bank

Norges Bank acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 296,409 shares of the company’s stock, valued at approximately $597,045,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter worth about $29,000. Holos Integrated Wealth LLC bought a new stake in MercadoLibre during the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre during the third quarter worth about $35,000. Finally, Strengthening Families & Communities LLC bought a new stake in MercadoLibre during the fourth quarter worth about $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Benchmark lowered their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Scotiabank lowered their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was bought at an average price 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 $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,695.65 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The firm has a 50 day moving average price of $1,719.52 and a two-hundred day moving average price of $1,901.13. The firm has a market cap of $85.97 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 1.04 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business posted $9.74 EPS. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current 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.