Allianz SE Buys Shares of 1,571 MercadoLibre, Inc. (NASDAQ:MELI)

Allianz SE purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,571 shares of the company's stock, valued at approximately $2,705,000.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its holdings in shares of MercadoLibre by 3.1% during the third 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 increased 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 worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Wealthfront Advisers LLC bought a new position in MercadoLibre during the 4th quarter valued at about $565,306,000. Royal London Asset Management Ltd. boosted its position in MercadoLibre by 8.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company's stock valued at $438,232,000 after buying an additional 21,063 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in MercadoLibre by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company's stock worth $400,619,000 after buying an additional 3,710 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $2,402.81.

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MercadoLibre Trading Down 1.8 %

Shares of NASDAQ:MELI traded down $35.87 during midday trading on Tuesday, hitting $1,915.00. The company had a trading volume of 682,422 shares, compared to its average volume of 376,757. The company has a current ratio of 1.25, a quick ratio of 1.22 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 $2,374.54. The firm has a fifty day simple moving average of $2,030.68 and a 200 day simple moving average of $1,972.33. The stock has a market cap of $97.08 billion, a price-to-earnings ratio of 50.80, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.