Union Bancaire Privee UBP SA Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Union Bancaire Privee UBP SA boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 219.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,767 shares of the company’s stock after purchasing an additional 1,901 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in MercadoLibre were worth $5,535,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Apollon Wealth Management LLC increased its holdings in shares of MercadoLibre by 47.3% during the 4th quarter. Apollon Wealth Management LLC now owns 629 shares of the company’s stock worth $1,070,000 after buying an additional 202 shares during the last quarter. Kingsview Wealth Management LLC grew its position in MercadoLibre by 7.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 459 shares of the company’s stock valued at $781,000 after acquiring an additional 33 shares during the period. Empowered Funds LLC increased its stake in MercadoLibre by 2.0% during the fourth quarter. Empowered Funds LLC now owns 711 shares of the company’s stock worth $1,209,000 after acquiring an additional 14 shares during the last quarter. Stephens Inc. AR increased its stake in MercadoLibre by 16.8% during the fourth quarter. Stephens Inc. AR now owns 1,223 shares of the company’s stock worth $2,080,000 after acquiring an additional 176 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in shares of MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.4%

NASDAQ:MELI opened at $2,387.00 on Thursday. The stock has a market cap of $121.01 billion, a price-to-earnings ratio of 63.32, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business’s 50-day simple moving average is $2,318.55 and its 200 day simple moving average is $2,070.71.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. MercadoLibre’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.78 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Wall Street Zen cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Friday, May 16th. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,632.50.

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.