MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% in the 4th quarter, according to 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 period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MercadoLibre were worth $40,256,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. boosted 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 buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. lifted its position 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 purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of recent analyst reports. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Barclays raised their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Trading Down 3.2 %

Shares of MELI opened at $1,944.61 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $1,946.86 and a 200-day simple moving average of $1,969.34. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock has a market cap of $98.59 billion, a price-to-earnings ratio of 51.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share 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 analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Equities analysts forecast 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.