PNC Financial Services Group Inc. Sells 955 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

PNC Financial Services Group Inc. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,547 shares of the company's stock after selling 955 shares during the period. PNC Financial Services Group Inc.'s holdings in MercadoLibre were worth $9,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Human Investing LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised 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 acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. raised its stake in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company's stock worth $32,000 after acquiring an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on MELI shares. Wedbush decreased their price target 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 decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Barclays lifted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Two investment 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 company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,990.11 on Wednesday. The stock has a market cap of $100.89 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The firm's fifty day simple moving average is $1,952.66 and its 200 day simple moving average is $1,969.27. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month 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 released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.

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