MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,666 shares of the company’s stock after selling 279 shares during the period. Northwest & Ethical Investments L.P.’s holdings in MercadoLibre were worth $16,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $565,306,000. Strategic Financial Concepts LLC boosted its holdings in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares in the last quarter. FMR LLC boosted its stake 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 during the period. Wellington Management Group LLP grew its holdings in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on MELI shares. Wedbush dropped their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. 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. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Up 3.2 %

NASDAQ MELI opened at $2,065.94 on Thursday. The stock’s 50-day simple moving average is $1,984.29 and its two-hundred day simple moving average is $1,970.03. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve 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 PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its 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. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company 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.