MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 895 shares of the company’s stock after selling 11 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in MercadoLibre were worth $1,471,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of MercadoLibre by 33.4% in the first quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after purchasing an additional 1,241 shares during the last quarter. Sarasin & Partners LLP grew its holdings in MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.4 %

Shares of MercadoLibre stock opened at $2,102.64 on Thursday. The company’s fifty day moving average is $1,884.30 and its two-hundred day moving average is $1,683.67. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market capitalization of $106.60 billion, a P/E ratio of 94.08, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business posted $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Susquehanna upped their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. BTIG Research increased 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. Finally, New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,182.92.

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.