MercadoLibre, Inc. $MELI Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,268 shares of the company’s stock after selling 877 shares during the quarter. MercadoLibre accounts for about 0.7% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 29th largest position. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $31,577,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of MercadoLibre during the 2nd quarter worth $2,246,015,000. Janus Henderson Group PLC grew its holdings in shares of MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after acquiring an additional 10,142 shares during the last quarter. Linonia Partnership LP grew its holdings in shares of MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock worth $939,994,000 after acquiring an additional 423,527 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of MercadoLibre during the second quarter worth $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MercadoLibre by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock worth $906,094,000 after purchasing an additional 38,871 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, September 3rd. Susquehanna boosted their price objective on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a report on Tuesday, October 6th. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre Trading Down 1.6%

NASDAQ MELI opened at $1,824.95 on Friday. The firm’s 50 day moving average price is $1,862.71 and its two-hundred day moving average price is $1,788.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,428.00. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 1.30 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.31 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 38.09 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.