Danica Pension Livsforsikringsaktieselskab Acquires Shares of 5,612 MercadoLibre, Inc. $MELI

Danica Pension Livsforsikringsaktieselskab purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, HoldingsChannel.com reports. The firm purchased 5,612 shares of the company’s stock, valued at approximately $9,703,000.

Several other large investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre during the second quarter worth $29,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $30,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Morgan Stanley dropped their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. UBS Group lowered their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company 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. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Stock Down 0.5%

Shares of NASDAQ:MELI opened at $1,822.65 on Wednesday. The company has a market capitalization of $92.41 billion, a price-to-earnings ratio of 48.10, a P/E/G ratio of 1.13 and a beta of 1.35. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The business’s 50-day moving average is $1,692.28 and its 200-day moving average is $1,818.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm earned $9.74 earnings per share. The business’s quarterly revenue was up 49.0% on a year-over-year basis. Equities research analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

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.