Polen Capital Management LLC Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Polen Capital Management LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,595 shares of the company's stock after selling 2,420 shares during the period. Polen Capital Management LLC owned 0.07% of MercadoLibre worth $62,228,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MELI. Wealthfront Advisers LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $565,306,000. Strategic Financial Concepts LLC lifted its holdings in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after purchasing an additional 181,849 shares in the last quarter. FMR LLC lifted its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup cut their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a report on Friday, February 21st. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Finally, Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $2,402.81.

MercadoLibre Stock Up 0.1 %

Shares of MELI stock traded up $1.63 on Thursday, hitting $2,067.57. The stock had a trading volume of 264,513 shares, compared to its average volume of 363,373. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $1,984.29 and a 200 day moving average price of $1,970.03. The company has a market cap of $104.82 billion, a PE ratio of 54.84, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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 net margin of 9.20% and a return on equity of 51.89%. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.