MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,188 shares of the company’s stock after selling 582 shares during the quarter. Cibc World Markets Corp’s holdings in MercadoLibre were worth $5,421,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MELI. Swedbank AB boosted its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Empowered Funds LLC boosted its position in MercadoLibre by 5.3% during the third quarter. Empowered Funds LLC now owns 697 shares of the company’s stock worth $1,430,000 after acquiring an additional 35 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in MercadoLibre by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after acquiring an additional 21 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in MercadoLibre by 48.0% during the third quarter. Banque Cantonale Vaudoise now owns 814 shares of the company’s stock worth $1,670,000 after acquiring an additional 264 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in MercadoLibre during the third quarter worth approximately $228,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, 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 report on Tuesday, November 26th. Two research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,065.94 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a market capitalization of $104.74 billion, a price-to-earnings ratio of 54.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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’s fifty day moving average price is $1,984.29 and its 200 day moving average price is $1,970.03.

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, topping 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 firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 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.