CIBC Private Wealth Group LLC Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

CIBC Private Wealth Group LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 33.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,880 shares of the company's stock after selling 38,953 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.15% of MercadoLibre worth $133,694,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $565,306,000. Norges Bank purchased a new stake in MercadoLibre during the 4th quarter valued at about $383,051,000. Strategic Financial Concepts LLC increased its holdings in shares of MercadoLibre by 169,952.3% in the fourth 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 during the period. Wellington Management Group LLP lifted its holdings in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre during the third quarter worth about $114,417,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Susquehanna upped their target price 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. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $2,402.81.

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MercadoLibre Price Performance

MELI stock traded up $10.98 during trading on Thursday, hitting $1,945.01. The stock had a trading volume of 330,687 shares, compared to its average volume of 377,783. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company's 50-day moving average price is $2,034.60 and its two-hundred day moving average price is $1,970.61. 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 $98.61 billion, a P/E ratio of 51.59, a PEG ratio of 1.12 and a beta of 1.64.

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

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.