MercadoLibre, Inc. $MELI Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the first quarter, HoldingsChannel reports. The firm owned 108,626 shares of the company’s stock after selling 7,352 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MercadoLibre were worth $186,725,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MELI. Interchange Capital Partners LLC grew its holdings in MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after purchasing an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC boosted its position in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. boosted its position in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after buying an additional 5 shares during the last quarter. Strategic Advisors LLC grew its stake in shares of MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Up 0.8%

MELI stock opened at $1,857.42 on Friday. The firm has a market cap of $94.17 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 1.13 and a beta of 1.35. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The firm has a fifty day moving average price of $1,678.27 and a two-hundred day moving average price of $1,822.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business posted $9.74 earnings per share. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MELI. UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Finally, Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.