Legal & General Group Plc Sells 80,159 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Legal & General Group Plc decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,597 shares of the company's stock after selling 80,159 shares during the quarter. Legal & General Group Plc owned about 0.47% of MercadoLibre worth $402,319,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. increased its holdings in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after acquiring an additional 10,272 shares during the last quarter. Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MELI. 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 research note on Tuesday, January 21st. The Goldman Sachs Group upped their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $2,409.69.

MercadoLibre Stock Up 3.3 %

Shares of NASDAQ MELI traded up $62.96 during mid-day trading on Friday, reaching $1,996.95. 358,711 shares of the company's stock traded hands, compared to its average volume of 388,054. 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 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock has a market cap of $101.24 billion, a P/E ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62. The business has a 50-day simple moving average of $2,036.16 and a 200 day simple moving average of $1,957.92.

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 analysts' consensus estimates 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. On average, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.