Handelsbanken Fonder AB Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Handelsbanken Fonder AB raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,349 shares of the company's stock after buying an additional 158 shares during the quarter. Handelsbanken Fonder AB's holdings in MercadoLibre were worth $38,003,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MELI. Human Investing LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. grew its position in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. lifted its stake in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value 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. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday. Wedbush dropped 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 note on Monday, January 6th. Finally, BTIG Research reduced their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2,364.06.

MercadoLibre Stock Up 7.1 %

Shares of MELI stock traded up $149.53 during mid-day trading on Friday, hitting $2,260.00. The stock had a trading volume of 1,256,768 shares, compared to its average volume of 371,354. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-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's 50-day moving average is $1,858.57 and its two-hundred day moving average is $1,952.94. The firm has a market capitalization of $114.58 billion, a P/E ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. On average, analysts predict that MercadoLibre, Inc. will post 32.98 earnings per share for the current fiscal year.

About MercadoLibre

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.