Truist Financial Corp Buys 50 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Truist Financial Corp increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,997 shares of the company’s stock after acquiring an additional 50 shares during the period. Truist Financial Corp’s holdings in MercadoLibre were worth $10,198,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its stake in MercadoLibre by 4.7% in the fourth quarter. CIBC Asset Management Inc now owns 9,075 shares of the company’s stock worth $15,431,000 after buying an additional 408 shares in the last quarter. Pittenger & Anderson Inc. raised its stake in MercadoLibre by 13.0% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,922 shares of the company’s stock worth $4,969,000 after buying an additional 336 shares in the last quarter. Human Investing LLC purchased a new stake in MercadoLibre in the fourth quarter worth about $26,000. Principal Financial Group Inc. grew its holdings in MercadoLibre by 43.8% in the fourth quarter. Principal Financial Group Inc. now owns 85,443 shares of the company’s stock worth $145,291,000 after purchasing an additional 26,013 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its holdings in MercadoLibre by 1.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 31,844 shares of the company’s stock worth $54,149,000 after purchasing an additional 461 shares during the period. 87.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

MercadoLibre Trading Up 1.7 %

NASDAQ:MELI opened at $2,110.47 on Friday. 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, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a market cap of $107.00 billion, a PE ratio of 74.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62. The company has a 50 day simple moving average of $1,858.57 and a two-hundred day simple moving average of $1,952.94.

MercadoLibre (NASDAQ:MELI) last posted its 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 7.57% and a return on equity of 40.71%. Research analysts forecast that MercadoLibre, Inc. will post 32.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Barclays cut their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Morgan Stanley cut their price objective on shares of 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Company 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.