Norges Bank Invests $383.05 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Norges Bank bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 225,266 shares of the company’s stock, valued at approximately $383,051,000. Norges Bank owned about 0.44% of MercadoLibre as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. raised its holdings in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares in the last quarter. Nvwm LLC raised its stake in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after acquiring an additional 6 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after acquiring an additional 7 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its stake in shares of MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after purchasing an additional 7 shares in the last quarter. Finally, Savant Capital LLC raised its position in MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,048.07 on Friday. The company’s fifty day moving average price is $2,028.39 and its 200-day moving average price is $1,974.17. The stock has a market cap of $103.83 billion, a PE ratio of 54.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wedbush cut their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Susquehanna upped their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. 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 stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Company 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.