MercadoLibre, Inc. $MELI Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in MercadoLibre by 7.3%, now owning approximately 67,410 shares valued at $131.5 million.
• Several analysts have set target prices for MELI shares, with Goldman Sachs raising its target from $2,640 to $3,000, while Citigroup lowered its target from $2,900 to $2,850.
• MercadoLibre reported $10.31 EPS for the last quarter, missing the consensus estimate, but its revenue increased by 33.8% year-over-year.

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,410 shares of the company's stock after buying an additional 4,562 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.13% of MercadoLibre worth $131,508,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Key Financial Inc purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd raised its stake in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares in the last quarter. Park Square Financial Group LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Finally, Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MELI. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Finally, Barclays lowered their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Trading Up 2.4%

MercadoLibre stock traded up $58.86 during midday trading on Thursday, reaching $2,472.29. The stock had a trading volume of 373,052 shares, compared to its average volume of 385,000. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The stock has a market capitalization of $125.35 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock's 50-day simple moving average is $2,410.93 and its 200 day simple moving average is $2,282.38.

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

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.