Skandinaviska Enskilda Banken AB publ Buys 26,563 Shares of MercadoLibre, Inc. $MELI

Skandinaviska Enskilda Banken AB publ increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 53.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 76,542 shares of the company’s stock after purchasing an additional 26,563 shares during the quarter. MercadoLibre accounts for 0.7% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its 22nd biggest holding. Skandinaviska Enskilda Banken AB publ’s holdings in MercadoLibre were worth $178,634,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $206,000. Empowered Funds LLC lifted its stake in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of MercadoLibre during the second quarter valued at about $261,000. Finally, Yousif Capital Management LLC increased its position in shares of MercadoLibre by 6.0% during the second quarter. Yousif Capital Management LLC now owns 142 shares of the company’s stock worth $371,000 after acquiring an additional 8 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,136 shares of company stock valued at $2,308,788 over the last ninety days. 0.25% of the stock is currently owned by insiders.

MercadoLibre Trading Down 0.9%

Shares of MELI stock opened at $1,988.26 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market cap of $100.80 billion, a P/E ratio of 48.52, a PEG ratio of 0.99 and a beta of 1.44. The company has a 50 day moving average of $2,064.20 and a 200-day moving average of $2,188.78. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MELI shares. Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. UBS Group dropped their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Barclays increased their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Benchmark cut their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,886.25.

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.