FMR LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 861,939 shares of the company's stock after selling 17,057 shares during the quarter. FMR LLC owned 1.70% of MercadoLibre worth $1,465,675,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $565,306,000. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $383,051,000. Strategic Financial Concepts LLC raised its holdings in shares of MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after buying an additional 181,849 shares during the period. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre during the 3rd quarter worth about $114,417,000. Finally, Coronation Fund Managers Ltd. boosted its holdings in MercadoLibre by 130.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company's stock valued at $131,747,000 after acquiring an additional 43,836 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on MELI shares. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Two research 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $2,409.69.
View Our Latest Report on MercadoLibre
MercadoLibre Stock Performance
MELI traded up $62.96 on Friday, reaching $1,996.95. The company had a trading volume of 358,711 shares, compared to its average volume of 388,657. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $101.24 billion, a PE ratio of 52.97, a P/E/G ratio of 1.12 and a beta of 1.62. The stock has a 50-day moving average price of $2,036.16 and a 200-day moving average price of $1,958.91.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 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 for the quarter, compared to analysts' expectations of $5.94 billion. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
About MercadoLibre
(
Free Report)
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.
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