MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,590 shares of the company's stock after purchasing an additional 886 shares during the quarter. IFM Investors Pty Ltd's holdings in MercadoLibre were worth $19,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MELI. Bank Pictet & Cie Europe AG acquired a new stake in MercadoLibre during the fourth quarter worth about $561,000. QRG Capital Management Inc. grew its stake in shares of MercadoLibre by 17.5% in the 4th quarter. QRG Capital Management Inc. now owns 168 shares of the company's stock valued at $286,000 after buying an additional 25 shares during the period. Modera Wealth Management LLC increased its holdings in shares of MercadoLibre by 8.1% during the 4th quarter. Modera Wealth Management LLC now owns 134 shares of the company's stock worth $228,000 after buying an additional 10 shares during the last quarter. Keybank National Association OH increased its holdings in shares of MercadoLibre by 3.1% during the 4th quarter. Keybank National Association OH now owns 2,036 shares of the company's stock worth $3,462,000 after buying an additional 61 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of MercadoLibre by 0.8% during the 4th quarter. Arizona State Retirement System now owns 13,156 shares of the company's stock valued at $22,371,000 after buying an additional 103 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.4%

Shares of NASDAQ MELI traded up $34.98 during midday trading on Friday, hitting $2,507.03. 194,179 shares of the company's stock were exchanged, compared to its average volume of 388,884. The firm's fifty day simple moving average is $2,463.43 and its 200-day simple moving average is $2,128.17. The company has a market cap of $127.11 billion, a PE ratio of 61.66, a P/E/G ratio of 1.49 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.78 EPS. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average price target of $2,645.94.

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.