BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $47.98 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,197 shares of the company’s stock after selling 5,153 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.06% of MercadoLibre worth $47,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GQG Partners LLC increased its stake in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Norges Bank bought a new position in MercadoLibre in the fourth quarter valued at approximately $554,386,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the period. International Assets Investment Management LLC increased its position in shares of MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,061.66 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $1,768.02 and its 200 day simple moving average is $1,648.77. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,064.76. The company has a market cap of $104.52 billion, a price-to-earnings ratio of 92.24, a PEG ratio of 1.13 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MELI shares. BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,067.92.

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.