MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by FIL Ltd

FIL Ltd trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 39.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,874 shares of the company's stock after selling 61,658 shares during the quarter. FIL Ltd owned about 0.19% of MercadoLibre worth $161,328,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EP Wealth Advisors LLC boosted its holdings in shares of MercadoLibre by 47.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 216 shares of the company's stock worth $443,000 after purchasing an additional 70 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of MercadoLibre by 1.8% during the third quarter. Orion Portfolio Solutions LLC now owns 812 shares of the company's stock valued at $1,666,000 after acquiring an additional 14 shares in the last quarter. MML Investors Services LLC lifted its position in shares of MercadoLibre by 2.0% in the 3rd quarter. MML Investors Services LLC now owns 4,379 shares of the company's stock worth $8,986,000 after purchasing an additional 87 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in MercadoLibre by 1.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 15,995 shares of the company's stock valued at $32,821,000 after buying an additional 227 shares during the period. Finally, Vestcor Inc grew its holdings in MercadoLibre by 26.9% in the third quarter. Vestcor Inc now owns 2,045 shares of the company's stock worth $4,196,000 after purchasing an additional 433 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

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Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday. Wedbush dropped 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. The Goldman Sachs Group increased 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. 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. Finally, Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $2,409.69.

MercadoLibre Stock Up 1.1 %

NASDAQ MELI traded up $21.61 during midday trading on Monday, hitting $2,018.56. 116,092 shares of the company traded hands, compared to its average volume of 387,001. The company has a market cap of $102.33 billion, a PE ratio of 53.54, 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. The company's 50-day simple moving average is $2,036.16 and its 200-day simple moving average is $1,957.92. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS 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, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.