Canada Pension Plan Investment Board Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Canada Pension Plan Investment Board grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,455 shares of the company’s stock after purchasing an additional 27,832 shares during the period. Canada Pension Plan Investment Board owned approximately 0.51% of MercadoLibre worth $424,745,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. O Dell Group LLC grew its position in shares of MercadoLibre by 2.1% during the first quarter. O Dell Group LLC now owns 294 shares of the company’s stock valued at $445,000 after purchasing an additional 6 shares in the last quarter. Belpointe Asset Management LLC grew its position in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares in the last quarter. Hilltop National Bank grew its position in MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares in the last quarter. Contravisory Investment Management Inc. grew its position in MercadoLibre by 5.1% in the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after acquiring an additional 7 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in MercadoLibre by 0.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock worth $1,294,000 after acquiring an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,109.40 on Friday. The company has a 50 day moving average price of $1,892.32 and a 200-day moving average price of $1,686.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64. The company has a market capitalization of $106.94 billion, a PE ratio of 94.38, a P/E/G ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm posted $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MELI shares. Citigroup lifted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald started coverage on MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price target for the company. Barclays lifted their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,182.92.

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.