MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,297 shares of the company's stock after buying an additional 217 shares during the quarter. E. Ohman J or Asset Management AB's holdings in MercadoLibre were worth $4,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in MercadoLibre during the 4th quarter valued at about $2,619,000. Strategic Financial Concepts LLC increased its position in MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after purchasing an additional 181,849 shares during the period. Jones Financial Companies Lllp increased its position in MercadoLibre by 34.1% during the 4th quarter. Jones Financial Companies Lllp now owns 3,503 shares of the company's stock valued at $5,957,000 after purchasing an additional 891 shares during the period. Finally, Apollon Wealth Management LLC increased its position in MercadoLibre by 47.3% during the 4th quarter. Apollon Wealth Management LLC now owns 629 shares of the company's stock valued at $1,070,000 after purchasing an additional 202 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $99.35 during trading hours on Friday, hitting $2,482.39. 713,830 shares of the company were exchanged, compared to its average volume of 382,299. The stock has a market capitalization of $125.85 billion, a price-to-earnings ratio of 65.85, a PEG ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company's 50 day moving average price is $2,288.33 and its 200-day moving average price is $2,061.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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 company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre'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. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Barclays lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,613.75.

About MercadoLibre

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.