MercadoLibre, Inc. $MELI Shares Bought by Swiss National Bank

Swiss National Bank increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 133,920 shares of the company’s stock after purchasing an additional 8,890 shares during the period. Swiss National Bank’s holdings in MercadoLibre were worth $231,550,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre in the fourth quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,813.91 on Monday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The firm has a market capitalization of $91.97 billion, a P/E ratio of 47.87, a P/E/G ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company’s fifty day moving average price is $1,681.90 and its 200 day moving average price is $1,821.33.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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). The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.74 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre 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.