Union Bancaire Privee UBP SA Acquires Shares of 866 MercadoLibre, Inc. (NASDAQ:MELI)

Union Bancaire Privee UBP SA purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 866 shares of the company’s stock, valued at approximately $1,493,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Planning Capital Management Corp grew its stake in shares of MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP grew its stake in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. Strategic Blueprint LLC grew its stake in shares of MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after purchasing an additional 6 shares during the period. Nvwm LLC grew its stake in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in shares of MercadoLibre by 3.7% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush decreased their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus price target of $2,364.06.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,260.00 on Monday. The firm has a market cap of $114.58 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average is $1,867.29 and its two-hundred day moving average is $1,958.01. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research 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.