MercadoLibre, Inc. (NASDAQ:MELI) Holdings Cut by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,674 shares of the company's stock after selling 423 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in MercadoLibre were worth $40,256,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MELI. Planning Capital Management Corp grew its holdings in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock valued at $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP lifted its position in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after buying an additional 5 shares in the last quarter. Nvwm LLC raised its position in MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after purchasing an additional 6 shares during the period. Perigon Wealth Management LLC raised its position in MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock valued at $1,758,000 after purchasing an additional 7 shares during the period. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock valued at $78,000 after buying an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

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MercadoLibre Stock Down 0.2 %

NASDAQ:MELI traded down $3.26 during mid-day trading on Wednesday, reaching $1,986.85. The stock had a trading volume of 276,081 shares, compared to its average volume of 403,988. The company has a market capitalization of $100.73 billion, a price-to-earnings ratio of 52.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock's 50 day simple moving average is $1,952.66 and its two-hundred day simple moving average is $1,969.27. 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 (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research report on Tuesday, November 26th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average 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.