MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 200.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360 shares of the company's stock after buying an additional 240 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in MercadoLibre were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in MELI. Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre during the 3rd quarter valued at about $114,417,000. Principal Financial Group Inc. lifted its holdings in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after purchasing an additional 10,272 shares during the period. KBC Group NV boosted its position in MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after buying an additional 17,677 shares during the last quarter. Nordea Investment Management AB increased its holdings in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after buying an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in MercadoLibre by 40.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after acquiring an additional 780 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on MELI shares. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Wedbush decreased their price objective 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. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $15.19 during mid-day trading on Thursday, reaching $2,097.58. The company's stock had a trading volume of 49,059 shares, compared to its average volume of 374,034. The stock has a 50-day moving average of $1,930.48 and a two-hundred day moving average of $1,969.77. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $106.34 billion, a P/E ratio of 55.64, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data 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 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS 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.