Swiss National Bank Decreases Position in MercadoLibre, Inc. $MELI

Swiss National Bank lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,500 shares of the company’s stock after selling 6,700 shares during the quarter. Swiss National Bank owned approximately 0.26% of MercadoLibre worth $307,308,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Highview Capital Management LLC DE bought a new stake in MercadoLibre in the 2nd quarter valued at about $559,000. Weitz Investment Management Inc. bought a new position in MercadoLibre during the third quarter worth about $8,647,000. Barlow Wealth Partners Inc. boosted its position in MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock worth $202,610,000 after purchasing an additional 10,849 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent research reports. Barclays dropped their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. BTIG Research lowered their target price on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Wedbush cut their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,785.33.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,787.86 on Monday. The company has a 50 day moving average of $2,024.42 and a 200 day moving average of $2,139.12. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock has a market cap of $90.64 billion, a P/E ratio of 45.38, a P/E/G ratio of 0.90 and a beta of 1.48. MercadoLibre, Inc. has a 12 month low of $1,654.24 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the prior year, the company earned $12.61 earnings per share. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% 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.