CIBC Private Wealth Group LLC Sells 38,953 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

CIBC Private Wealth Group LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,880 shares of the company’s stock after selling 38,953 shares during the quarter. CIBC Private Wealth Group LLC owned 0.15% of MercadoLibre worth $133,694,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MELI. Wealthfront Advisers LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $565,306,000. Norges Bank bought a new stake in MercadoLibre during the fourth quarter valued at about $383,051,000. Strategic Financial Concepts LLC grew its stake in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the last quarter. Wellington Management Group LLP raised its holdings in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre during the third quarter valued at about $114,417,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Wedbush reduced 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. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. 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 note on Friday, February 21st. Two 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 MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,048.07 on Friday. 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, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The business has a 50-day moving average price of $2,028.39 and a 200 day moving average price of $1,974.17. The firm has a market cap of $103.83 billion, a PE ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its 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 firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.