DnB Asset Management AS Buys 2,744 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

DnB Asset Management AS increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,192 shares of the company’s stock after buying an additional 2,744 shares during the period. DnB Asset Management AS owned 0.09% of MercadoLibre worth $75,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. increased its stake in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after buying an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after acquiring an additional 780 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Bank of America boosted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,095.85 on Friday. The business’s fifty day moving average is $2,024.14 and its 200 day moving average is $1,974.34. The firm has a market cap of $106.25 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.