AMF Tjanstepension AB Acquires 11,077 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AMF Tjanstepension AB raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,580 shares of the company’s stock after acquiring an additional 11,077 shares during the period. MercadoLibre comprises 1.1% of AMF Tjanstepension AB’s holdings, making the stock its 24th biggest holding. AMF Tjanstepension AB’s holdings in MercadoLibre were worth $157,427,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its stake in shares of MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares during the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its position in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Swedbank AB boosted its stake in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,009.34 on Friday. The firm has a 50 day moving average of $1,942.41 and a 200-day moving average of $1,970.16. The company has a market cap of $101.87 billion, a price-to-earnings ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MELI shares. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $2,402.81.

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.