Comgest Global Investors S.A.S. Sells 5,043 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Comgest Global Investors S.A.S. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,951 shares of the company's stock after selling 5,043 shares during the period. MercadoLibre makes up approximately 1.1% of Comgest Global Investors S.A.S.'s holdings, making the stock its 21st biggest position. Comgest Global Investors S.A.S. owned 0.08% of MercadoLibre worth $66,234,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC increased its position in shares of MercadoLibre by 394.0% during the 4th quarter. CreativeOne Wealth LLC now owns 657 shares of the company's stock worth $1,117,000 after purchasing an additional 524 shares in the last quarter. Mariner LLC raised its holdings in shares of MercadoLibre by 4.9% in the fourth quarter. Mariner LLC now owns 6,007 shares of the company's stock valued at $10,216,000 after buying an additional 279 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in MercadoLibre by 4.3% during the 4th quarter. Reynders McVeigh Capital Management LLC now owns 758 shares of the company's stock worth $1,289,000 after acquiring an additional 31 shares during the last quarter. Synovus Financial Corp raised its stake in shares of MercadoLibre by 10.4% in the fourth quarter. Synovus Financial Corp now owns 1,963 shares of the company's stock worth $3,340,000 after acquiring an additional 185 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of MercadoLibre by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,613 shares of the company's stock worth $2,743,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MELI. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Tuesday. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Susquehanna boosted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Two investment 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $2,415.94.

MercadoLibre Price Performance

MercadoLibre stock traded up $35.00 during midday trading on Friday, reaching $2,099.37. The company's stock had a trading volume of 250,624 shares, compared to its average volume of 386,426. The business has a 50-day moving average price of $2,042.00 and a 200-day moving average price of $1,959.90. The stock has a market cap of $106.43 billion, a PE ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.94 billion. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.