J.Safra Asset Management Corp Buys New Stake in MercadoLibre, Inc. $MELI

J.Safra Asset Management Corp purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 507 shares of the company’s stock, valued at approximately $861,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC raised its holdings in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth boosted its position in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in MercadoLibre during the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL grew its holdings in MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MELI shares. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Scotiabank reduced their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,844.58 on Monday. The company’s 50-day moving average is $1,767.47 and its two-hundred day moving average is $1,785.70. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $93.52 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

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.