Allianz Asset Management GmbH grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 70,148 shares of the company's stock after acquiring an additional 3,354 shares during the quarter. Allianz Asset Management GmbH owned about 0.14% of MercadoLibre worth $119,282,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after acquiring an additional 181,849 shares during the period. FMR LLC boosted its holdings in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the period. Wellington Management Group LLP boosted its stake in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after buying an additional 120,922 shares during the period. Finally, Swedbank AB boosted its stake in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after buying an additional 73,336 shares during the period. 87.62% of the stock is currently owned by institutional investors.
In other news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company's stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company's stock.
Shares of NASDAQ MELI traded up $149.53 during midday trading on Friday, hitting $2,260.00. 1,256,768 shares of the company's stock were exchanged, compared to its average volume of 335,408. The company has a market cap of $114.58 billion, a PE ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The firm's fifty day simple moving average is $1,867.29 and its 200-day simple moving average is $1,956.30. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday. Susquehanna upped their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Buy" and an average target price of $2,364.06.
View Our Latest Research Report on MELI
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.
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