J.Safra Asset Management Corp Takes Position in MercadoLibre, Inc. $MELI

J.Safra Asset Management Corp acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 507 shares of the company’s stock, valued at approximately $861,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brown Advisory Inc. raised its holdings in shares of MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares during the last quarter. TIAA Trust National Association grew its holdings in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after buying an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC increased its position in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas increased its position in shares of MercadoLibre by 18.2% in the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after acquiring an additional 6,200 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This 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 accessible through this link. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group decreased their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Morgan Stanley dropped their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,844.58 on Monday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market capitalization of $93.52 billion, a PE ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. The company has a fifty day moving average of $1,767.47 and a 200 day moving average of $1,785.70.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the firm earned $10.31 EPS. Research analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Company 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.