MercadoLibre, Inc. $MELI Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,641 shares of the company’s stock after selling 667 shares during the period. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $34,555,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Jackson Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at $499,000. Highview Capital Management LLC DE acquired a new stake in shares of MercadoLibre in the second quarter worth $559,000. Ninety One North America Inc. grew its holdings in shares of MercadoLibre by 21.5% during the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in MercadoLibre by 10.9% during the second quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock valued at $13,921,000 after buying an additional 525 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,136 shares of company stock valued at $2,308,788 over the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MELI. UBS Group decreased their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Wedbush decreased their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Trading Down 0.8%

NASDAQ:MELI opened at $2,137.29 on Friday. The company has a market capitalization of $108.36 billion, a P/E ratio of 52.15, a P/E/G ratio of 1.06 and a beta of 1.42. The stock’s 50 day moving average price is $2,051.07 and its 200 day moving average price is $2,223.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the firm earned $7.83 earnings per share. MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.