Swedbank AB Sells 142,925 Shares of MercadoLibre, Inc. $MELI

Key Points

• Swedbank AB sharply reduced its MercadoLibre stake in the first quarter, selling 142,925 shares and cutting its holdings by 86.2% to 22,959 shares worth about $39.7 million.
• MercadoLibre’s latest earnings were mixed: revenue rose 49% year over year to $8.85 billion, but EPS of $8.23 missed analyst expectations of $8.75.
• Wall Street remains mostly constructive on MELI, with a consensus rating of “Moderate Buy” and an average price target of $2,255.33, even as several firms trimmed their targets.

Swedbank AB decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 86.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,959 shares of the company's stock after selling 142,925 shares during the quarter. Swedbank AB's holdings in MercadoLibre were worth $39,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new position in shares of MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre during the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $30,000. Institutional investors own 87.62% of the company's stock.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,809.38 on Thursday. The company has a market cap of $91.74 billion, a P/E ratio of 47.75, a P/E/G ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm's fifty day moving average is $1,673.87 and its two-hundred day moving average is $1,828.99.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analysts' expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company's revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.74 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MELI shares. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Finally, Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,255.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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