DNB Asset Management AS Sells 1,441 Shares of MercadoLibre, Inc. $MELI

DNB Asset Management AS cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,161 shares of the company’s stock after selling 1,441 shares during the period. DNB Asset Management AS owned 0.08% of MercadoLibre worth $82,909,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth about $29,000. Holos Integrated Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $32,000. Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre in the third quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 3.8%

Shares of MELI opened at $1,546.81 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $78.42 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 0.95 and a beta of 1.41. The stock’s 50-day moving average price is $1,734.98 and its 200 day moving average price is $1,945.43.

MercadoLibre (NASDAQ:MELI) last issued 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 net margin of 6.04% and a return on equity of 29.58%. 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 prior year, the firm earned $9.74 earnings per share. The company’s revenue was up 49.0% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 42.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MELI shares. Scotiabank dropped their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. BTIG Research lowered their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lowered their price target for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Finally, Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MercadoLibre 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.