DNB Asset Management AS Has $82.91 Million Stock Position in MercadoLibre, Inc. $MELI

DNB Asset Management AS trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,161 shares of the company’s stock after selling 1,441 shares during the quarter. DNB Asset Management AS’s holdings in MercadoLibre were worth $82,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors boosted its holdings in MercadoLibre by 3.4% during the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after purchasing an additional 59,838 shares in the last quarter. Capital World Investors boosted its holdings in MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after purchasing an additional 22,659 shares in the last quarter. Schroder Investment Management Group boosted its holdings in MercadoLibre by 9.8% during the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after purchasing an additional 50,893 shares in the last quarter. Finally, WCM Investment Management LLC boosted its holdings in MercadoLibre by 0.4% during the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after purchasing an additional 1,833 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 3.8%

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

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.74 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 42.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday. Benchmark reduced their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald reduced their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.