MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,476 shares of the company’s stock after buying an additional 391 shares during the quarter. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $11,012,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its stake in shares of MercadoLibre by 352.8% in the 3rd 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. Empowered Funds LLC raised its stake in shares of MercadoLibre by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 697 shares of the company’s stock valued at $1,430,000 after purchasing an additional 35 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of MercadoLibre by 48.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 814 shares of the company’s stock valued at $1,670,000 after purchasing an additional 264 shares in the last quarter. Finally, West Family Investments Inc. acquired a new stake in shares of MercadoLibre in the 3rd quarter valued at about $228,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent analyst reports. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Up 3.2 %

Shares of NASDAQ:MELI opened at $2,065.94 on Thursday. The company has a 50 day moving average of $1,984.29 and a 200-day moving average of $1,970.03. The firm has a market cap of $104.74 billion, a P/E ratio of 54.80, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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

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.