MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,237 shares of the company's stock after selling 268 shares during the period. Pinebridge Investments L.P.'s holdings in MercadoLibre were worth $3,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital International Investors increased its holdings in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors increased its holdings in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company's stock valued at $927,239,000 after buying an additional 2,048 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 1.0 %

MELI stock opened at $2,225.85 on Friday. The stock has a market cap of $112.84 billion, a PE ratio of 59.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The firm's 50-day simple moving average is $2,050.36 and its 200 day simple moving average is $1,966.25. MercadoLibre, Inc. has a fifty-two week low of $1,376.69 and a fifty-two week 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MELI shares. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. Wedbush cut their target price 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. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research note on Tuesday, April 15th. New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald decreased their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and an average target price of $2,464.67.

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.

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