Danica Pension Livsforsikringsaktieselskab Purchases New Shares in MercadoLibre, Inc. $MELI

Key Points

• Danica Pension bought a new stake in MercadoLibre during the first quarter, purchasing 5,612 shares valued at about $9.7 million.
• MercadoLibre reported quarterly earnings of $8.23 per share, missing estimates, but revenue came in at $8.85 billion and rose 49% year over year.
• Analyst sentiment is mixed but still constructive: the stock has a Moderate Buy consensus rating, with a consensus price target of $2,258.67.

Danica Pension Livsforsikringsaktieselskab purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,612 shares of the company's stock, valued at approximately $9,703,000.

Other large investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the 4th quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre during the 3rd quarter worth about $35,000. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MELI shares. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Benchmark decreased their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,258.67.

MercadoLibre Trading Down 0.5%

MELI opened at $1,822.65 on Wednesday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The firm has a 50-day moving average price of $1,692.28 and a two-hundred day moving average price of $1,818.66. The stock has a market capitalization of $92.41 billion, a PE ratio of 48.10, a PEG ratio of 1.13 and a beta of 1.35. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm earned $9.74 EPS. The business's revenue for the quarter was up 49.0% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

About MercadoLibre

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.

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