APG Asset Management N.V. Has $58.39 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

APG Asset Management N.V. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 516.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,558 shares of the company's stock after acquiring an additional 29,789 shares during the quarter. APG Asset Management N.V. owned 0.07% of MercadoLibre worth $58,391,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre in the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. grew its holdings in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the period. Nordea Investment Management AB increased its position in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of MercadoLibre by 11.7% during the 4th 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 period. Finally, Y Intercept Hong Kong Ltd increased its stake in 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 during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

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MercadoLibre Trading Up 3.3 %

MercadoLibre stock traded up $62.96 during midday trading on Friday, reaching $1,996.95. The stock had a trading volume of 358,711 shares, compared to its average volume of 388,657. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $101.24 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62. The firm's fifty day simple moving average is $2,036.16 and its two-hundred day simple moving average is $1,958.91.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Wedbush lowered their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $2,409.69.

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.