DnB Asset Management AS Has $88.56 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• DnB Asset Management AS increased its stake in MercadoLibre, Inc. by 2.7%, purchasing an additional 1,201 shares during Q1, bringing its total holdings to 45,393 shares valued at approximately $88.6 million.
• MercadoLibre's recent quarterly earnings report showed an EPS of $10.31, which missed consensus estimates, despite revenue of $6.79 billion exceeding expectations.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with a price target averaging around $2,817.22, following various adjustments from different investment firms.

DnB Asset Management AS grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,393 shares of the company's stock after buying an additional 1,201 shares during the quarter. DnB Asset Management AS owned approximately 0.09% of MercadoLibre worth $88,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG bought a new stake in MercadoLibre during the fourth quarter worth about $561,000. Comerica Bank grew its stake in shares of MercadoLibre by 22.4% during the fourth quarter. Comerica Bank now owns 2,398 shares of the company's stock valued at $4,078,000 after purchasing an additional 439 shares during the last quarter. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Aptus Capital Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $284,000. Finally, Ancora Advisors LLC grew its stake in shares of MercadoLibre by 10.9% during the fourth quarter. Ancora Advisors LLC now owns 61 shares of the company's stock valued at $104,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 2.9%

MELI stock traded down $70.53 during midday trading on Monday, reaching $2,346.96. The company's stock had a trading volume of 783,935 shares, compared to its average volume of 390,558. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The stock has a market cap of $118.99 billion, a PE ratio of 57.96, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business's 50-day simple moving average is $2,402.07 and its 200-day simple moving average is $2,302.70.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.48 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on MELI shares. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Citigroup decreased their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Scotiabank started coverage on shares of MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

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.