MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 73.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131 shares of the company's stock after selling 363 shares during the quarter. Blueshift Asset Management LLC's holdings in MercadoLibre were worth $223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Swedbank AB boosted its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MercadoLibre by 11.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company's stock worth $404,000 after buying an additional 21 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of MercadoLibre by 268.1% in the 3rd quarter. Avior Wealth Management LLC now owns 173 shares of the company's stock worth $355,000 after buying an additional 126 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in MercadoLibre in the 3rd quarter valued at about $209,000. Finally, 49 Wealth Management LLC purchased a new position in MercadoLibre during the 3rd quarter valued at about $209,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 2.2 %

Shares of MELI traded up $47.22 during trading hours on Tuesday, hitting $2,181.53. The stock had a trading volume of 245,517 shares, compared to its average volume of 363,563. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a market cap of $110.60 billion, a P/E ratio of 57.88, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company's fifty day simple moving average is $2,005.48 and its 200 day simple moving average is $1,971.33.

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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 the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MELI. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and a consensus price target of $2,402.81.

MercadoLibre Company 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.