Generali Asset Management SPA SGR purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,771 shares of the company's stock, valued at approximately $4,712,000.
Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC raised its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp lifted its holdings in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company's stock worth $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP boosted 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 acquiring an additional 120,922 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in MercadoLibre in the fourth quarter valued at about $565,306,000. Institutional investors and hedge funds own 87.62% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Susquehanna increased their price objective 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. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. 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, the company has an average rating of "Buy" and an average target price of $2,402.81.
Check Out Our Latest Analysis on MELI
MercadoLibre Trading Up 1.3 %
Shares of MELI traded up $27.70 during trading hours on Friday, hitting $2,095.27. 441,808 shares of the stock traded hands, compared to its average volume of 363,609. The business has a fifty day moving average of $1,997.59 and a 200-day moving average of $1,970.80. The firm has a market capitalization of $106.22 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. 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 (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, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.
MercadoLibre Profile
(
Free Report)
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.
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