MercadoLibre, Inc. $MELI Shares Acquired by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA increased its MercadoLibre stake by 44.2% in the third quarter, purchasing 6,220 additional shares for a total holding worth approximately $35.1 million.
• Institutional ownership remains high at 87.62%, with major investors including Deutsche Bank, Allianz Asset Management, State Street and Bank of America adding or initiating positions.
• MercadoLibre exceeded quarterly earnings and revenue estimates, reporting $9.19 EPS and $10.17 billion in revenue, while analysts maintain a “Moderate Buy” consensus and an average price target of $2,251.88.

Banque Pictet & Cie SA lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 44.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,293 shares of the company's stock after purchasing an additional 6,220 shares during the quarter. Banque Pictet & Cie SA's holdings in MercadoLibre were worth $35,077,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CORDA Investment Management LLC. bought a new stake in shares of MercadoLibre in the second quarter worth about $1,241,000. Deutsche Bank AG bought a new position in MercadoLibre during the 2nd quarter valued at approximately $279,445,000. Allianz Asset Management GmbH raised its position in MercadoLibre by 72.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company's stock valued at $174,176,000 after purchasing an additional 43,130 shares during the last quarter. State Street Corp raised its position in MercadoLibre by 7.7% during the 2nd quarter. State Street Corp now owns 459,748 shares of the company's stock valued at $780,372,000 after purchasing an additional 32,734 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $291,146,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $1,834.00 on Friday. The company has a market capitalization of $92.98 billion, a P/E ratio of 49.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $1,863.15 and a 200 day moving average of $1,783.74. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,428.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.31 earnings per share. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 38.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on MELI. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. New Street Research assumed coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price target on the stock. Susquehanna increased their price target on shares of MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research note on Tuesday, October 6th. Finally, BTIG Research restated a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc NASDAQ: MELI operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.

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