MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 49.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,632 shares of the company's stock after selling 1,583 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in MercadoLibre were worth $2,775,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Strategic Financial Concepts LLC raised its stake in shares of MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after purchasing an additional 181,849 shares in the last quarter. Wellington Management Group LLP lifted its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of MercadoLibre in the 3rd quarter worth approximately $114,417,000. Coronation Fund Managers Ltd. increased its holdings in shares of MercadoLibre by 130.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company's stock valued at $131,747,000 after acquiring an additional 43,836 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on MELI shares. Barclays lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Price Performance

NASDAQ MELI traded down $47.78 on Friday, reaching $2,048.07. 326,428 shares of the stock traded hands, compared to its average volume of 374,317. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. 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's fifty day simple moving average is $2,028.39 and its 200 day simple moving average is $1,974.17. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64.

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

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.