Jupiter Asset Management Ltd. Sells 7,316 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Jupiter Asset Management Ltd. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,232 shares of the company's stock after selling 7,316 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in MercadoLibre were worth $31,002,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MELI. Swedbank AB raised its holdings in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of MercadoLibre in the 3rd quarter valued at about $293,000. Assetmark Inc. lifted its holdings in shares of MercadoLibre by 11.1% in the third quarter. Assetmark Inc. now owns 4,042 shares of the company's stock valued at $8,294,000 after purchasing an additional 404 shares in the last quarter. Atria Investments Inc boosted its position in shares of MercadoLibre by 5.3% during the third quarter. Atria Investments Inc now owns 3,105 shares of the company's stock worth $6,371,000 after buying an additional 157 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of MercadoLibre by 15.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 160 shares of the company's stock worth $328,000 after buying an additional 22 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

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MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $15.13 during trading on Thursday, reaching $1,989.70. 510,518 shares of the stock were exchanged, compared to its average volume of 411,445. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock has a 50-day moving average price of $1,963.24 and a 200-day moving average price of $1,969.66. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $100.87 billion, a PE ratio of 52.78, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. New Street Research raised 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 research report on Thursday, January 30th. Cantor Fitzgerald increased their price target on 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, 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 report on Friday, February 21st. Two research 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. According to MarketBeat.com, MercadoLibre presently has an average rating of "Buy" and a consensus price target of $2,402.81.

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.