Zurcher Kantonalbank Zurich Cantonalbank Has $59.69 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,981 shares of the company's stock after buying an additional 9,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of MercadoLibre worth $59,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $28,000. Proffitt & Goodson Inc. purchased a new stake in shares of MercadoLibre in the third quarter valued at $32,000. Blue Trust Inc. lifted its holdings in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company's stock valued at $39,000 after purchasing an additional 9 shares in the last quarter. Castleview Partners LLC lifted its holdings in shares of MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company's stock valued at $32,000 after purchasing an additional 10 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of MercadoLibre in the third quarter valued at $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $18.00 during midday trading on Tuesday, hitting $1,397.88. The company's stock had a trading volume of 364,693 shares, compared to its average volume of 386,572. The stock has a market capitalization of $70.87 billion, a price-to-earnings ratio of 71.54, a PEG ratio of 0.93 and a beta of 1.44. The stock's 50 day simple moving average is $1,581.12 and its 200 day simple moving average is $1,524.73. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company's revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.25 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 35.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MELI shares. Barclays reduced their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an "overweight" rating for the company in a report on Wednesday, April 3rd. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a "buy" rating for the company in a report on Wednesday, March 27th. Susquehanna increased their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a "positive" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Finally, Wedbush reiterated an "outperform" rating and set a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $1,806.15.

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.