MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Truxt Investmentos Ltda.

Truxt Investmentos Ltda. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 43.2% in the 3rd quarter, Holdings Channel reports. The firm owned 17,509 shares of the company’s stock after selling 13,317 shares during the period. MercadoLibre accounts for approximately 24.1% of Truxt Investmentos Ltda.’s investment portfolio, making the stock its biggest holding. Truxt Investmentos Ltda.’s holdings in MercadoLibre were worth $35,928,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in MercadoLibre during the second quarter valued at approximately $2,913,000. Finally, Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MELI. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley increased their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,309.67.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,872.01 on Friday. The company has a market cap of $94.91 billion, a PE ratio of 66.06, a P/E/G ratio of 1.30 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm’s 50 day moving average price is $2,046.45 and its 200-day moving average price is $1,822.55.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 EPS for the quarter, missing the consensus estimate of $11.27 by ($3.44). The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.25 billion. MercadoLibre had a return on equity of 42.61% and a net margin of 7.57%. Sell-side analysts forecast that MercadoLibre, Inc. will post 37.28 EPS 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.