MercadoLibre, Inc. $MELI Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,978 shares of the company’s stock after purchasing an additional 4,651 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.23% of MercadoLibre worth $228,906,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at about $8,647,000. Barlow Wealth Partners Inc. boosted its position in MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in MercadoLibre by 14.3% during 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. grew its holdings in MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in MercadoLibre by 5.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock valued at $27,015,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Morgan Stanley cut their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Barclays reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. UBS Group decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,708.67.

MercadoLibre Stock Up 1.2%

NASDAQ MELI opened at $1,619.20 on Tuesday. The business has a fifty day moving average price of $1,892.02 and a 200 day moving average price of $2,057.72. MercadoLibre, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The company has a market cap of $82.09 billion, a P/E ratio of 41.10, a P/E/G ratio of 0.81 and a beta of 1.48.

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

About MercadoLibre

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.