SBI Securities Co. Ltd. Purchases Shares of 2,313 MercadoLibre, Inc. (NASDAQ:MELI)

SBI Securities Co. Ltd. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,313 shares of the company’s stock, valued at approximately $3,933,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC boosted its stake in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. State Street Corp boosted its stake in MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of MercadoLibre by 1.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after buying an additional 3,710 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Susquehanna boosted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average target price of $2,385.94.

MercadoLibre Trading Down 0.4 %

NASDAQ:MELI opened at $2,121.87 on Friday. The company has a market cap of $107.57 billion, a P/E ratio of 56.28, a P/E/G ratio of 1.12 and a beta of 1.62. The stock’s fifty day moving average price is $1,909.95 and its two-hundred day moving average price is $1,967.18. 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) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current 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.