Generali Asset Management SPA SGR Invests $4.71 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Generali Asset Management SPA SGR acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,771 shares of the company’s stock, valued at approximately $4,712,000.

Several other large investors have also recently modified their holdings of MELI. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $565,306,000. Strategic Financial Concepts LLC increased its holdings in MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the period. FMR LLC increased its holdings in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP increased its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Swedbank AB increased its holdings in MercadoLibre by 352.8% during 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 during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MELI shares. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. 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. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI opened at $2,002.80 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $1,977.75 and its 200-day moving average price is $1,969.35. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The stock has a market cap of $101.54 billion, a P/E ratio of 53.12, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts anticipate 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.