Nordea Investment Management AB Has $219.97 Million Holdings in MercadoLibre, Inc. $MELI

Nordea Investment Management AB increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,176 shares of the company’s stock after purchasing an additional 4,355 shares during the period. Nordea Investment Management AB owned about 0.22% of MercadoLibre worth $219,965,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Weitz Investment Management Inc. bought a new position in shares of MercadoLibre during the 3rd quarter worth about $8,647,000. Barlow Wealth Partners Inc. increased its stake in MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after acquiring an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA raised its position in MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock worth $202,610,000 after purchasing an additional 10,849 shares in the last quarter. Principal Financial Group Inc. lifted its stake in MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after purchasing an additional 7,570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in MercadoLibre by 5.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock worth $27,015,000 after purchasing an additional 600 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,635.76 on Monday. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 0.80 and a beta of 1.48. The company has a 50 day moving average of $1,948.16 and a 200-day moving average of $2,089.23. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 1-year low of $1,631.18 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $12.61 earnings per share. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. BTIG Research cut their target price on MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research report on Friday. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,708.67.

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.