Skandinaviska Enskilda Banken AB publ Acquires 122 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Skandinaviska Enskilda Banken AB publ grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,381 shares of the company’s stock after acquiring an additional 122 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in MercadoLibre were worth $26,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. O Dell Group LLC raised its stake in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after acquiring an additional 6 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after buying an additional 6 shares in the last quarter. Hilltop National Bank boosted its holdings in MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after buying an additional 7 shares during the period. Contravisory Investment Management Inc. increased its stake in MercadoLibre by 5.1% in the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after buying an additional 7 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in MercadoLibre by 0.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock valued at $1,294,000 after acquiring an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MELI shares. Morgan Stanley upped their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective on the stock. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

MercadoLibre Price Performance

MELI stock opened at $2,103.75 on Friday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,157.64. The firm has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a fifty day simple moving average of $1,899.17 and a two-hundred day simple moving average of $1,690.40. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $5.16 EPS. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

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.