Atika Capital Management LLC Sells 14,500 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Atika Capital Management LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 65.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,750 shares of the company's stock after selling 14,500 shares during the period. MercadoLibre comprises approximately 1.4% of Atika Capital Management LLC's portfolio, making the stock its 18th biggest holding. Atika Capital Management LLC's holdings in MercadoLibre were worth $13,178,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MELI. Ilmarinen Mutual Pension Insurance Co increased its holdings in shares of MercadoLibre by 42.9% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 10,000 shares of the company's stock worth $17,004,000 after buying an additional 3,000 shares during the period. Russell Investments Group Ltd. grew its stake in shares of MercadoLibre by 10.7% in the fourth quarter. Russell Investments Group Ltd. now owns 76,346 shares of the company's stock worth $129,958,000 after purchasing an additional 7,380 shares during the last quarter. Ted Buchan & Co increased its holdings in MercadoLibre by 10.6% during the 4th quarter. Ted Buchan & Co now owns 607 shares of the company's stock valued at $1,032,000 after purchasing an additional 58 shares during the period. Annandale Capital LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $534,000. Finally, Perennial Investment Advisors LLC grew its position in shares of MercadoLibre by 21.0% in the 4th quarter. Perennial Investment Advisors LLC now owns 173 shares of the company's stock worth $294,000 after buying an additional 30 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on MELI. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Barclays raised their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and a consensus price target of $2,409.69.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $50.10 during trading on Friday, hitting $1,984.09. 168,042 shares of the company's stock traded hands, compared to its average volume of 437,177. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The business has a 50-day simple moving average of $2,035.55 and a 200-day simple moving average of $1,959.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $100.59 billion, a P/E ratio of 52.63, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.