MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in MercadoLibre, Inc. (NASDAQ:MELI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 68.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,767 shares of the company's stock after acquiring an additional 53,858 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.26% of MercadoLibre worth $225,765,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MELI. Capital International Investors boosted its holdings in shares of MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after acquiring an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $565,306,000. Capital World Investors boosted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank purchased a new stake in MercadoLibre in the fourth quarter worth approximately $383,051,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MELI shares. The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. StockNews.com upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Susquehanna boosted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Finally, Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,521.33.

MercadoLibre Price Performance

MELI traded up $22.49 during trading on Thursday, hitting $2,586.49. 403,171 shares of the company traded hands, compared to its average volume of 382,940. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market cap of $131.13 billion, a PE ratio of 68.61, a P/E/G ratio of 1.12 and a beta of 1.61. The stock's 50-day simple moving average is $2,110.31 and its two-hundred day simple moving average is $1,992.37. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,615.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the firm posted $6.78 earnings per share. The business's revenue was up 37.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.