Mitsubishi UFJ Trust & Banking Corp Has $88.99 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Mitsubishi UFJ Trust & Banking Corp has decreased its stake in MercadoLibre by 52%, resulting in ownership of approximately 0.09% of the company, valued at $88.99 million.
• Several analysts have updated their price targets for MercadoLibre, with Susquehanna setting a new target of $2,975.00, while Cantor Fitzgerald lowered theirs to $2,700.00.
• MercadoLibre reported a 37.0% increase in revenue year-over-year, achieving $5.94 billion during the last quarter, significantly exceeding analyst expectations.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,616 shares of the company's stock after selling 49,365 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of MercadoLibre worth $88,991,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,707.50.

MercadoLibre Price Performance

NASDAQ:MELI traded up $19.91 during mid-day trading on Monday, reaching $2,395.83. 557,159 shares of the company were exchanged, compared to its average volume of 275,352. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a fifty day moving average of $2,455.84 and a 200 day moving average of $2,229.19. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The stock has a market cap of $121.47 billion, a PE ratio of 58.92, a PEG ratio of 1.41 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. During the same quarter in the prior year, the business posted $10.48 EPS. The company's quarterly revenue was up 33.8% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.