KLP Kapitalforvaltning AS Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

KLP Kapitalforvaltning AS purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel reports. The firm purchased 15,400 shares of the company’s stock, valued at approximately $26,187,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Human Investing LLC bought a new stake in MercadoLibre in the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. grew its position in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.3 %

NASDAQ MELI opened at $2,095.27 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a market capitalization of $106.22 billion, a P/E ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The company’s 50 day simple moving average is $1,997.59 and its 200 day simple moving average is $1,970.80. 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) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MELI shares. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $2,402.81.

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.