MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 560 shares of the company's stock after selling 1,753 shares during the period. Pier 88 Investment Partners LLC's holdings in MercadoLibre were worth $952,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $114,417,000. Principal Financial Group Inc. lifted its position in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the last quarter. Nordea Investment Management AB increased its position in shares of MercadoLibre by 37.8% during the fourth 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 last quarter. Oppenheimer & Co. Inc. raised its stake in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after acquiring an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after acquiring an additional 780 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price 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. Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $2,402.81.

MercadoLibre Stock Down 1.8 %

NASDAQ:MELI traded down $35.87 during trading hours on Tuesday, hitting $1,915.00. The company's stock had a trading volume of 682,422 shares, compared to its average volume of 376,957. The stock has a market capitalization of $97.08 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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 fifty day moving average of $2,032.29 and a 200-day moving average of $1,970.87. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for 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%. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.