MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 146,808 shares of the company's stock after selling 6,210 shares during the quarter. Pictet Asset Management Holding SA owned 0.29% of MercadoLibre worth $249,638,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Human Investing LLC purchased a new position in MercadoLibre in the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at $32,000. Finally, Mather Group LLC. raised its stake in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock valued at $32,000 after buying an additional 12 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MELI shares. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a report on Friday, February 21st. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Wedbush dropped 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 report on Monday, January 6th. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $2,402.81.

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MercadoLibre Stock Performance

Shares of MercadoLibre stock traded down $40.29 during trading hours on Tuesday, hitting $1,910.58. 273,098 shares of the company were exchanged, compared to its average volume of 375,247. The business has a 50-day moving average of $2,030.68 and a 200-day moving average of $1,972.33. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. 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 stock has a market capitalization of $96.86 billion, a price-to-earnings ratio of 50.88, a P/E/G ratio of 1.12 and a beta of 1.64.

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, 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 analysts' expectations of $5.94 billion. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.