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

Swiss National Bank decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 125,030 shares of the company’s stock after selling 6,470 shares during the period. Swiss National Bank’s holdings in MercadoLibre were worth $251,843,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hardy Reed LLC raised its position in shares of MercadoLibre by 4.0% during the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after purchasing an additional 5 shares during the period. Rothschild Investment LLC raised its position in shares of MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its position in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares during the period. Interchange Capital Partners LLC raised its position in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares during the period. Finally, Cornerstone Select Advisors LLC raised its position in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after purchasing an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.4%

NASDAQ:MELI opened at $1,610.00 on Friday. The firm has a market capitalization of $81.62 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $1,718.27 and its 200 day moving average price is $1,875.83.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for 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 firm’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.74 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought 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 approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MELI shares. Scotiabank cut their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, Citigroup lowered MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price target for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average 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.