Axiom Investors LLC DE Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Axiom Investors LLC DE lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 64.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,932 shares of the company's stock after selling 152,944 shares during the period. MercadoLibre makes up about 1.1% of Axiom Investors LLC DE's portfolio, making the stock its 24th largest position. Axiom Investors LLC DE owned approximately 0.17% of MercadoLibre worth $142,721,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth $565,306,000. Norges Bank acquired a new position in MercadoLibre during the 4th quarter valued at about $383,051,000. Strategic Financial Concepts LLC increased its position in MercadoLibre by 169,952.3% during 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 in the last quarter. Wellington Management Group LLP raised its stake in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre in the third quarter worth about $114,417,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $104.26 during trading hours on Friday, reaching $1,841.29. The company had a trading volume of 852,116 shares, compared to its average volume of 382,094. 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 business's 50 day moving average price is $2,036.90 and its 200-day moving average price is $1,968.60. The firm has a market cap of $93.35 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its 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. The firm had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wedbush decreased their price objective 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. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Finally, Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Two investment 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. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price 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.