MercadoLibre, Inc. $MELI Shares Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% during the 4th quarter, Holdings Channel reports. The firm owned 7,421 shares of the company’s stock after buying an additional 300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in MercadoLibre were worth $14,948,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. PKO Investment Management Joint Stock Co grew its holdings in MercadoLibre by 28.0% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 3,200 shares of the company’s stock valued at $6,446,000 after purchasing an additional 700 shares during the period. Souders Financial Advisors grew its holdings in MercadoLibre by 6.9% in the fourth quarter. Souders Financial Advisors now owns 155 shares of the company’s stock valued at $312,000 after purchasing an additional 10 shares during the period. Pittenger & Anderson Inc. grew its holdings in MercadoLibre by 14.5% in the fourth quarter. Pittenger & Anderson Inc. now owns 3,110 shares of the company’s stock valued at $6,264,000 after purchasing an additional 395 shares during the period. Balentine LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $540,000. Finally, Ping Capital Management Inc. acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $201,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays lowered their price target on MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Wedbush lowered their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. BTIG Research reaffirmed a “buy” rating and issued a $2,400.00 price target on shares of MercadoLibre in a research note on Friday, April 10th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,685.33.

MercadoLibre Stock Down 2.0%

MELI stock opened at $1,813.53 on Tuesday. The company has a market cap of $91.95 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 0.92 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 12 month low of $1,593.21 and a 12 month high of $2,645.22. The firm has a 50-day moving average of $1,760.90 and a two-hundred day moving average of $1,971.47.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Saturday, February 14th. The company reported $11.03 EPS for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. As a group, analysts forecast that MercadoLibre, Inc. will post 48.79 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.