Canada Pension Plan Investment Board Sells 91,770 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Canada Pension Plan Investment Board lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,535 shares of the company's stock after selling 91,770 shares during the period. Canada Pension Plan Investment Board owned about 0.19% of MercadoLibre worth $165,852,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MELI. Foster Dykema Cabot & Partners LLC lifted its position in MercadoLibre by 11,400.0% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 115 shares of the company's stock valued at $196,000 after purchasing an additional 114 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of MercadoLibre during the 4th quarter valued at about $894,000. Garden State Investment Advisory Services LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $253,000. Marshall Wace LLP increased its holdings in MercadoLibre by 183.9% in the 4th quarter. Marshall Wace LLP now owns 151,234 shares of the company's stock worth $257,164,000 after acquiring an additional 97,955 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in MercadoLibre by 1.2% during the fourth quarter. Wasatch Advisors LP now owns 149,794 shares of the company's stock valued at $254,716,000 after purchasing an additional 1,825 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.4 %

MELI traded up $9.17 during trading hours on Wednesday, reaching $2,137.50. 155,445 shares of the company's stock traded hands, compared to its average volume of 384,727. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $2,045.33 and a 200 day moving average price of $1,961.90. MercadoLibre, Inc. has a 52-week low of $1,341.00 and a 52-week high of $2,374.54. The firm has a market capitalization of $108.36 billion, a PE ratio of 56.70, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research report on Tuesday, February 25th. Bank of America increased their target price 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. Barclays upped their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $2,415.94.

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.