Zurcher Kantonalbank Zurich Cantonalbank Sells 11,472 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,770 shares of the company’s stock after selling 11,472 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MercadoLibre were worth $40,707,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MELI. First PREMIER Bank purchased a new position in MercadoLibre in the first quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. DSM Capital Partners LLC purchased a new position in MercadoLibre in the fourth quarter valued at approximately $36,000. Scarborough Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter valued at approximately $36,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI stock traded up $20.62 on Thursday, reaching $2,015.79. The company’s stock had a trading volume of 199,231 shares, compared to its average volume of 362,794. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,048.99. The company has a market capitalization of $102.19 billion, a P/E ratio of 90.19, a PEG ratio of 1.13 and a beta of 1.60. The stock’s 50 day simple moving average is $1,759.41 and its 200-day simple moving average is $1,646.20.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The firm’s revenue was up 41.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MELI. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. BTIG Research increased their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup increased their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,067.92.

MercadoLibre Profile

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.