Fmr LLC Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Fmr LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 861,939 shares of the company’s stock after selling 17,057 shares during the quarter. Fmr LLC owned 1.70% of MercadoLibre worth $1,465,675,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MELI. Public Employees Retirement System of Ohio purchased a new position in MercadoLibre during the third quarter worth about $114,417,000. Principal Financial Group Inc. raised its stake in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after acquiring an additional 143 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after acquiring an additional 780 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several research analyst reports. Wedbush decreased their target price on shares of 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. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Bank of America lifted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,841.29 on Monday. The stock has a market capitalization of $93.35 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. 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 50-day moving average is $2,036.90 and its two-hundred day moving average is $1,966.91.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 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 during the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.