MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 34.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445 shares of the company's stock after selling 238 shares during the period. Connable Office Inc.'s holdings in MercadoLibre were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Human Investing LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. raised its holdings in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. raised its stake in shares of MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company's stock worth $32,000 after buying an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Susquehanna increased their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Wedbush decreased their price target on shares of 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. Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Bank of America raised their target price 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, BTIG Research cut their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of "Buy" and an average target price of $2,402.81.

MercadoLibre Trading Up 2.6 %

NASDAQ MELI traded up $52.90 during mid-day trading on Wednesday, hitting $2,112.77. The company's stock had a trading volume of 333,009 shares, compared to its average volume of 382,063. The firm has a market capitalization of $107.11 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock's fifty day simple moving average is $1,923.09 and its two-hundred day simple moving average is $1,968.76.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.94 billion. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.