Truist Financial Corp Acquires 50 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Truist Financial Corp raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,997 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Truist Financial Corp’s holdings in MercadoLibre were worth $10,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jennison Associates LLC raised its holdings in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the period. FMR LLC raised its holdings in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the period. State Street Corp raised its holdings in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP grew its position in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,110.47 on Friday. The company has a 50-day simple moving average of $1,858.57 and a two-hundred day simple moving average of $1,952.94. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm has a market cap of $107.00 billion, a price-to-earnings ratio of 74.47, a PEG ratio of 1.11 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. On average, equities analysts forecast that MercadoLibre, Inc. will post 32.98 EPS for the current year.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre 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.