34,707 Shares in MercadoLibre, Inc. $MELI Acquired by Danske Bank A S

Danske Bank A S acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 34,707 shares of the company’s stock, valued at approximately $81,108,000.

Other institutional investors have also recently modified their holdings of the company. Bison Wealth LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $206,000. Empowered Funds LLC lifted its position in MercadoLibre by 6.9% during the first 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 grew its stake 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 buying an additional 178 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in MercadoLibre during the second quarter worth about $261,000. Finally, Geode Capital Management LLC increased its holdings in MercadoLibre by 9.0% in the 2nd quarter. Geode Capital Management LLC now owns 65,142 shares of the company’s stock valued at $163,107,000 after buying an additional 5,361 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MELI shares. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. BTIG Research cut their target price on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

MercadoLibre Stock Down 0.2%

MELI stock opened at $1,728.14 on Wednesday. The firm has a 50-day moving average price of $1,978.71 and a 200-day moving average price of $2,104.96. MercadoLibre, Inc. has a 12 month low of $1,631.18 and a 12 month high of $2,645.22. 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 capitalization of $87.62 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last announced its quarterly 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). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period last year, the firm posted $12.61 earnings per share. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.