MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,779 shares of the company’s stock after selling 161 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in MercadoLibre were worth $4,567,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MELI. HBK Sorce Advisory LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter worth about $302,000. Federated Hermes Inc. raised its holdings in shares of MercadoLibre by 4.8% during the second quarter. Federated Hermes Inc. now owns 61,432 shares of the company’s stock valued at $100,957,000 after buying an additional 2,792 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in MercadoLibre by 41.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock worth $56,000 after buying an additional 10 shares in the last quarter. Meeder Advisory Services Inc. increased its position in MercadoLibre by 37.5% in the 2nd quarter. Meeder Advisory Services Inc. now owns 667 shares of the company’s stock valued at $1,096,000 after acquiring an additional 182 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in MercadoLibre by 6.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 57,591 shares of the company’s stock valued at $94,639,000 after acquiring an additional 3,665 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,122.37 on Friday. The company has a market cap of $107.60 billion, a P/E ratio of 94.96, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,143.96. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $1,860.84 and a 200 day simple moving average of $1,673.21.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $5.16 EPS. The company’s revenue was up 41.5% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. BTIG Research lifted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup increased their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,182.92.

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.