Axa S.A. Has $34.27 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Posted by on Sep 11th, 2023

Axa S.A. raised its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,999 shares of the company’s stock after purchasing an additional 2,421 shares during the quarter. Axa S.A. owned 0.05% of MercadoLibre worth $34,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Generation Investment Management LLP boosted its holdings in shares of MercadoLibre by 3.5% during the fourth quarter. Generation Investment Management LLP now owns 707,061 shares of the company’s stock worth $598,343,000 after acquiring an additional 23,855 shares during the period. FMR LLC lifted its holdings in MercadoLibre by 60.2% during the 1st quarter. FMR LLC now owns 675,219 shares of the company’s stock worth $889,979,000 after buying an additional 253,864 shares during the period. Franklin Resources Inc. grew its holdings in MercadoLibre by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 555,767 shares of the company’s stock worth $470,312,000 after acquiring an additional 25,228 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of MercadoLibre by 30.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after purchasing an additional 111,751 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of MercadoLibre by 14.2% during the 1st quarter. William Blair Investment Management LLC now owns 366,157 shares of the company’s stock worth $482,617,000 after purchasing an additional 45,580 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

MercadoLibre Stock Down 0.6 %

MELI stock opened at $1,428.19 on Monday. The company’s 50 day moving average is $1,255.12 and its two-hundred day moving average is $1,247.19. The stock has a market cap of $71.54 billion, a P/E ratio of 95.60, a PEG ratio of 1.49 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $754.76 and a twelve month high of $1,451.56. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 1.10.

MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.13 by $1.03. MercadoLibre had a net margin of 6.23% and a return on equity of 39.07%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 20.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Bank of America cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $1,680.00 to $1,350.00 in a research report on Monday, July 10th. StockNews.com began coverage on shares of MercadoLibre in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Citigroup upped their target price on shares of MercadoLibre from $1,500.00 to $1,550.00 in a research note on Wednesday, August 9th. Finally, UBS Group increased their price objective on shares of MercadoLibre from $1,600.00 to $1,700.00 and gave the company a “buy” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,645.00.

Read Our Latest Research Report on MercadoLibre

MercadoLibre Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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