CIBC Asset Management Inc Has $20.15 Million Stock Holdings in MercadoLibre, Inc. $MELI

CIBC Asset Management Inc trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,003 shares of the company’s stock after selling 3,107 shares during the quarter. CIBC Asset Management Inc’s holdings in MercadoLibre were worth $20,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MELI. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after buying an additional 296,543 shares during the period. Norges Bank bought a new position in shares of MercadoLibre during the fourth quarter valued at $597,045,000. Baillie Gifford & Co. boosted its stake in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after purchasing an additional 109,228 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of MercadoLibre by 29.0% during the 3rd quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after purchasing an additional 93,854 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.2%

Shares of NASDAQ MELI opened at $1,634.78 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company has a 50-day moving average of $1,721.45 and a two-hundred day moving average of $1,889.82. The company has a market cap of $82.88 billion, a PE ratio of 43.15, a P/E/G ratio of 1.01 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results 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 company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the company earned $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’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 transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MELI shares. Barclays reduced their price target on shares of 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. Morgan Stanley cut their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Finally, Scotiabank cut 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 report on Thursday, May 7th. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.