Rakuten Investment Management Inc. Purchases Shares of 58,070 MercadoLibre, Inc. $MELI

Rakuten Investment Management Inc. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,070 shares of the company’s stock, valued at approximately $135,706,000. MercadoLibre comprises 0.4% of Rakuten Investment Management Inc.’s portfolio, making the stock its 19th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the second quarter worth $29,000. Highline Wealth Partners LLC grew its stake in shares of MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares in the last quarter. Curio Wealth LLC raised its holdings in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares during the period. Stone House Investment Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $39,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in MercadoLibre during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.9%

Shares of NASDAQ:MELI opened at $2,034.82 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company’s 50 day moving average is $2,047.77 and its two-hundred day moving average is $2,229.15. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The company has a market cap of $103.17 billion, a PE ratio of 49.65, a P/E/G ratio of 1.03 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period last year, the firm posted $7.83 earnings per share. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on MELI shares. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Susquehanna dropped their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. UBS Group dropped their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Wedbush reduced their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,842.94.

Insider Transactions at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is currently owned by corporate insiders.

About MercadoLibre

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.