APG Asset Management N.V. Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

APG Asset Management N.V. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 76,016 shares of the company’s stock after selling 2,586 shares during the period. APG Asset Management N.V.’s holdings in MercadoLibre were worth $116,561,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Raymond James & Associates raised 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 buying an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in 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 boosted its stake in shares of MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock valued at $7,499,000 after buying an additional 1,241 shares during the last quarter. Caprock Group LLC boosted its stake in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares during the last quarter. Finally, Sarasin & Partners LLP raised its holdings in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 1.5 %

NASDAQ MELI opened at $2,100.21 on Friday. The firm has a 50-day simple moving average of $1,923.38 and a 200 day simple moving average of $1,703.97. 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 stock has a market cap of $106.47 billion, a PE ratio of 93.97, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.16 EPS. On average, research analysts forecast that MercadoLibre, Inc. will post 35.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on MELI. BTIG Research lifted their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre 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.