United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,023 shares of the company’s stock after selling 264 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in MercadoLibre were worth $6,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre in the 3rd quarter worth approximately $114,417,000. Principal Financial Group Inc. increased its holdings in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the period. Nordea Investment Management AB boosted its position in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after purchasing an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after buying an additional 780 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on MELI shares. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barclays boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group raised their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Up 2.7 %

NASDAQ MELI opened at $2,191.30 on Wednesday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a fifty day moving average price of $2,014.23 and a 200 day moving average price of $1,972.78. The company has a market cap of $111.09 billion, a P/E ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 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.