Swedbank AB Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Swedbank AB grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 25.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 118,274 shares of the company’s stock after acquiring an additional 24,151 shares during the period. Swedbank AB owned about 0.23% of MercadoLibre worth $201,118,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after purchasing an additional 67 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of MercadoLibre by 3.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock worth $2,838,000 after purchasing an additional 51 shares in the last quarter. Algert Global LLC raised its stake in shares of MercadoLibre by 30.0% in the second quarter. Algert Global LLC now owns 390 shares of the company’s stock worth $641,000 after buying an additional 90 shares during the period. Creative Planning increased its holdings in MercadoLibre by 44.6% in the 2nd quarter. Creative Planning now owns 6,027 shares of the company’s stock worth $9,904,000 after acquiring an additional 1,859 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in MercadoLibre by 6.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,292 shares of the company’s stock valued at $20,201,000 after purchasing an additional 698 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Price Performance

NASDAQ:MELI traded down $19.53 during trading hours on Wednesday, hitting $1,876.00. 17,847 shares of the stock were exchanged, compared to its average volume of 316,986. The company has a market cap of $95.11 billion, a P/E ratio of 66.08, a P/E/G ratio of 0.96 and a beta of 1.60. The firm’s fifty day moving average price is $1,842.47 and its 200 day moving average price is $1,915.10. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Citigroup reduced their target price 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 shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Finally, Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,241.00.

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.