MercadoLibre, Inc. $MELI Shares Sold by Danske Bank A S

Danske Bank A S trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 36.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,373 shares of the company’s stock after selling 14,351 shares during the quarter. Danske Bank A S’s holdings in MercadoLibre were worth $43,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of MercadoLibre during the second quarter worth about $2,246,015,000. Capital Research Global Investors boosted its position in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Norges Bank acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $597,045,000. Royal Bank of Canada grew its holdings in MercadoLibre by 114.2% in the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after buying an additional 237,008 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after buying an additional 202,322 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on MELI shares. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Morgan Stanley lowered their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

Insider Activity

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

MercadoLibre Price Performance

NASDAQ MELI opened at $1,908.65 on Thursday. 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 $96.77 billion, a PE ratio of 51.91, a P/E/G ratio of 1.22 and a beta of 1.34. The company’s 50 day simple moving average is $1,780.15 and its 200 day simple moving average is $1,776.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.31 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 39.11 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.