318 MercadoLibre, Inc. $MELI Shares Sold by Formuepleje A S

Formuepleje A S lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 24.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 958 shares of the company’s stock after selling 318 shares during the quarter. Formuepleje A S’s holdings in MercadoLibre were worth $1,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CORDA Investment Management LLC. bought a new position in shares of MercadoLibre during the second quarter worth about $1,241,000. Deutsche Bank AG acquired a new position in MercadoLibre in the second quarter worth about $279,445,000. Allianz Asset Management GmbH grew its stake in MercadoLibre by 72.5% in the second quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company’s stock worth $174,176,000 after purchasing an additional 43,130 shares in the last quarter. State Street Corp increased its holdings in MercadoLibre by 7.7% in the second quarter. State Street Corp now owns 459,748 shares of the company’s stock valued at $780,372,000 after buying an additional 32,734 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in MercadoLibre in the second quarter valued at about $291,146,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of several research reports. BTIG Research restated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. Finally, Susquehanna upped their price target on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $19.36 during trading hours on Thursday, reaching $1,858.47. The company’s stock had a trading volume of 191,192 shares, compared to its average volume of 535,930. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,428.00. The company’s 50 day simple moving average is $1,862.34 and its 200 day simple moving average is $1,781.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market cap of $94.22 billion, a P/E ratio of 50.57, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.31 EPS. As a group, analysts expect that MercadoLibre, Inc. will post 38.13 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.