AMF Tjanstepension AB Sells 1,025 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AMF Tjanstepension AB decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,503 shares of the company’s stock after selling 1,025 shares during the quarter. MercadoLibre makes up approximately 1.2% of AMF Tjanstepension AB’s portfolio, making the stock its 21st largest holding. AMF Tjanstepension AB’s holdings in MercadoLibre were worth $167,241,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MELI. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Citigroup lifted their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Barclays boosted their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,246.07.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,970.72 on Thursday. The firm has a market cap of $99.91 billion, a PE ratio of 88.18, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company’s 50-day moving average price is $1,962.54 and its two-hundred day moving average price is $1,721.79. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73.

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

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.