MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,397 shares of the company’s stock after selling 17,426 shares during the quarter. Candriam S.C.A. owned 0.06% of MercadoLibre worth $51,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Planning Capital Management Corp lifted its holdings in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP increased its position in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the last quarter. Nvwm LLC increased its position in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after acquiring an additional 6 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after acquiring an additional 7 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its position in shares of MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MELI shares. Barclays upped their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report 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 stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

MELI stock opened at $2,112.77 on Thursday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The firm has a market cap of $107.11 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The stock has a 50-day moving average price of $1,930.48 and a 200-day moving average price of $1,969.77. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 return on equity of 51.89% and a net margin of 9.20%. As a group, equities research analysts expect 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.