Rakuten Investment Management Inc. Takes Position in MercadoLibre, Inc. $MELI

Rakuten Investment Management Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 58,070 shares of the company’s stock, valued at approximately $135,706,000. MercadoLibre accounts for approximately 0.4% of Rakuten Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. Rakuten Investment Management Inc. owned 0.11% of MercadoLibre as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of MercadoLibre by 2.7% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 134,429 shares of the company’s stock valued at $314,153,000 after purchasing an additional 3,526 shares during the period. Chicago Partners Investment Group LLC lifted its stake in MercadoLibre by 21.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 184 shares of the company’s stock valued at $421,000 after buying an additional 32 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in MercadoLibre by 2.1% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 436 shares of the company’s stock worth $1,019,000 after buying an additional 9 shares during the last quarter. Impact Investors Inc increased its stake in MercadoLibre by 15.6% during the 3rd quarter. Impact Investors Inc now owns 170 shares of the company’s stock worth $398,000 after buying an additional 23 shares in the last quarter. Finally, Canopy Partners LLC raised its holdings in shares of MercadoLibre by 42.5% during the third quarter. Canopy Partners LLC now owns 208 shares of the company’s stock valued at $486,000 after acquiring an additional 62 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

In other news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,136 shares of company stock worth $2,308,788 in the last 90 days. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Down 1.9%

NASDAQ MELI opened at $2,034.82 on Wednesday. The business’s fifty day simple moving average is $2,047.77 and its 200-day simple moving average is $2,229.15. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market cap of $103.17 billion, a PE ratio of 49.65, a P/E/G ratio of 1.03 and a beta of 1.42. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the business posted $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Thursday, December 4th. Wedbush dropped their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.