Union Bancaire Privee UBP SA Increases Holdings in MercadoLibre, Inc. $MELI

Union Bancaire Privee UBP SA boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 197.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,083 shares of the company’s stock after buying an additional 5,370 shares during the period. Union Bancaire Privee UBP SA’s holdings in MercadoLibre were worth $19,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. Jackson Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter worth about $499,000. Highview Capital Management LLC DE acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $559,000. Ninety One North America Inc. boosted its stake in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of MercadoLibre by 4.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $39,900,000 after buying an additional 585 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock valued at $2,308,788 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. Citigroup decreased their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wedbush boosted their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Benchmark cut their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Trading Down 1.7%

Shares of NASDAQ:MELI opened at $1,933.72 on Wednesday. The business’s 50 day moving average price is $2,112.31 and its 200-day moving average price is $2,304.73. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm has a market capitalization of $98.04 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.MercadoLibre’s revenue was up 39.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.83 EPS. On average, equities research analysts forecast 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.