Pictet Asset Management Holding SA Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Pictet Asset Management Holding SA cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,808 shares of the company’s stock after selling 6,210 shares during the period. Pictet Asset Management Holding SA owned about 0.29% of MercadoLibre worth $249,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Human Investing LLC bought a new position in MercadoLibre in the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. increased its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. grew its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after buying an additional 12 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,095.85 on Friday. The business’s 50-day moving average is $2,024.14 and its 200 day moving average is $1,974.34. 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 $106.25 billion, a P/E ratio of 55.59, a P/E/G ratio of 1.12 and a beta of 1.64. 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 issued its quarterly earnings data 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 return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.