MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank has increased its position in MercadoLibre by 14.9%, holding approximately 27,192 shares valued at $53 million as of the latest quarter.
• MercadoLibre's stock recently opened at $2,362.56 with a market cap of $119.78 billion, but has seen a 1.2% decline.
• The company reported $9.74 EPS this quarter, exceeding estimates, with revenue rising 37.0% year-over-year to $5.94 billion.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 27,192 shares of the company's stock after acquiring an additional 3,518 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of MercadoLibre worth $53,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Texas Yale Capital Corp. lifted its holdings in shares of MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in shares of MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC lifted its holdings in shares of MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares during the period. Finally, Sonora Investment Management Group LLC lifted its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MELI shares. Scotiabank started coverage on MercadoLibre in a research report on Monday. They set a "sector outperform" rating and a $3,500.00 price target on the stock. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $2,690.29.

MercadoLibre Stock Down 0.8%

NASDAQ:MELI traded down $19.46 during trading hours on Thursday, hitting $2,361.93. The company's stock had a trading volume of 101,870 shares, compared to its average volume of 388,287. The stock has a market capitalization of $119.75 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The stock has a fifty day moving average of $2,463.12 and a 200-day moving average of $2,215.13. 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 52-week low of $1,579.78 and a 52-week high of $2,645.22.

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 the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the company posted $6.78 earnings per share. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.