Norges Bank Buys New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Norges Bank purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 225,266 shares of the company's stock, valued at approximately $383,051,000. Norges Bank owned 0.44% of MercadoLibre at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Human Investing LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $32,000. Finally, Mather Group LLC. grew its stake in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MELI shares. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Finally, Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Stock Performance

Shares of MercadoLibre stock traded down $35.87 during trading on Tuesday, hitting $1,915.00. 682,422 shares of the company's stock traded hands, compared to its average volume of 376,757. The stock has a market capitalization of $97.08 billion, a P/E ratio of 50.80, a PEG ratio of 1.12 and a beta of 1.64. The business has a 50-day simple moving average of $2,030.68 and a 200-day simple moving average of $1,972.33. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year 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.

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, topping analysts' consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.