Swiss National Bank Boosts Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Swiss National Bank boosted its MercadoLibre stake by 7.1% in the first quarter, buying 8,890 additional shares and bringing its holding to 133,920 shares worth about $231.6 million.
• MercadoLibre’s latest quarter showed strong revenue growth, with sales up 49% year over year to $8.85 billion, but earnings missed analyst estimates at $8.23 per share versus $8.75 expected.
• Analyst sentiment remains cautiously positive: the stock has a consensus rating of “Moderate Buy” with an average price target of $2,258.67, even as several firms recently trimmed their targets or downgraded the shares.

Swiss National Bank increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,920 shares of the company's stock after buying an additional 8,890 shares during the quarter. Swiss National Bank owned about 0.26% of MercadoLibre worth $231,550,000 at the end of the most recent reporting period.

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

MercadoLibre Price Performance

MELI opened at $1,813.91 on Monday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $1,681.90 and a 200 day moving average price of $1,821.33. The company has a market cap of $91.97 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the prior year, the company posted $9.74 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on MELI shares. Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a report on Wednesday, May 13th. Finally, Barclays reduced their price target on 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,258.67.

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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