877 MercadoLibre, Inc. $MELI Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman Jor Asset Management AB reduced its MercadoLibre stake by 4.6%, selling 877 shares and retaining 18,268 shares valued at approximately $31.6 million. Institutional investors collectively own 87.62% of the company.
• Analyst sentiment remains favorable, with 12 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and average price target of $2,251.88.
• MercadoLibre shares opened at $1,824.95, down 1.6%, while the company’s latest quarterly results exceeded expectations: EPS was $9.19 versus $8.65 expected, and revenue rose 49.8% year over year to $10.17 billion.

E. Ohman J or Asset Management AB reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,268 shares of the company's stock after selling 877 shares during the period. MercadoLibre accounts for about 0.7% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 29th biggest holding. E. Ohman J or Asset Management AB's holdings in MercadoLibre were worth $31,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in MELI. BlackRock Inc. acquired a new position in MercadoLibre during the 2nd quarter valued at approximately $2,246,015,000. Jupiter Topco LLC bought a new position in MercadoLibre during the 2nd quarter worth $917,123,000. Linonia Partnership LP increased its position in MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after buying an additional 423,527 shares during the period. Royal Bank of Canada increased its position in MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company's stock worth $768,728,000 after buying an additional 237,008 shares during the period. Finally, Bank of America Corp DE acquired a new stake in MercadoLibre in the second quarter worth $291,146,000. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup cut their target price on MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. Susquehanna upped their target price on shares of MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research report on Tuesday, October 6th. New Street Research started coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price target on the stock. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a report on Tuesday, September 29th. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,251.88.

MercadoLibre Stock Down 1.6%

MercadoLibre stock opened at $1,824.95 on Friday. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 1.30 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company's 50-day moving average price is $1,862.71 and its two-hundred day moving average price is $1,788.57. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm's quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.31 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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