UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $772.26 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 454,150 shares of the company’s stock after acquiring an additional 57,806 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MercadoLibre were worth $772,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MELI. Capital International Investors increased its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $565,306,000. Capital World Investors lifted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after acquiring an additional 308,973 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MercadoLibre during the 4th quarter worth $383,051,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,578.35 on Tuesday. The company has a market capitalization of $130.71 billion, a P/E ratio of 68.39, a P/E/G ratio of 1.12 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,610.30. The stock has a 50 day moving average of $2,146.51 and a two-hundred day moving average of $2,003.13.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business’s revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.78 EPS. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several analyst reports. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,521.33.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.