MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,939 shares of the company's stock after selling 1,337 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of MercadoLibre worth $101,922,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the period. Nordea Investment Management AB grew its stake in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after purchasing an additional 143 shares during the period. Assenagon Asset Management S.A. raised its position in MercadoLibre by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company's stock valued at $172,613,000 after purchasing an additional 11,166 shares in the last quarter. Finally, Ninety One North America Inc. bought a new position in shares of MercadoLibre during the 4th quarter worth $4,923,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

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MercadoLibre Stock Performance

Shares of MELI traded up $37.52 during trading hours on Monday, hitting $2,034.47. The stock had a trading volume of 104,199 shares, compared to its average volume of 386,958. The firm has a 50-day moving average price of $2,036.16 and a 200 day moving average price of $1,957.92. The firm has a market capitalization of $103.14 billion, a price-to-earnings ratio of 53.96, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly 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. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Morgan Stanley dropped their target price on MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday. Wedbush lowered 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 report on Monday, January 6th. Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, 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 report on Friday, February 21st. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $2,409.69.

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.