Mirae Asset Global Investments Co. Ltd. Purchases 1,422 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,595 shares of the company's stock after acquiring an additional 1,422 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of MercadoLibre worth $61,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth $565,306,000. Capital World Investors lifted its position in shares of MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of MercadoLibre during the 4th quarter worth $383,051,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 0.0%

NASDAQ:MELI traded down $0.15 during trading hours on Friday, hitting $2,560.05. 295,819 shares of the company were exchanged, compared to its average volume of 387,339. The stock has a market capitalization of $129.79 billion, a price-to-earnings ratio of 62.96, a price-to-earnings-growth ratio of 1.52 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88. The company has a fifty day simple moving average of $2,432.13 and a 200 day simple moving average of $2,109.52.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Susquehanna reiterated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.