MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Commerce Bank

Commerce Bank cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 771 shares of the company’s stock after selling 8 shares during the period. Commerce Bank’s holdings in MercadoLibre were worth $1,311,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its position in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after acquiring an additional 5 shares during the last quarter. Nvwm LLC grew its position in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after purchasing an additional 7 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its holdings in MercadoLibre by 17.9% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,056.43 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm’s fifty day moving average price is $2,044.08 and its 200 day moving average price is $1,960.73. The company has a market capitalization of $104.25 billion, a price-to-earnings ratio of 54.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Cantor Fitzgerald reduced their price objective on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Benchmark assumed coverage on shares of MercadoLibre in a research report on Tuesday, April 15th. They issued a “buy” rating and a $2,500.00 price objective for the company. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research 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 report on Monday, January 6th. Finally, Morgan Stanley decreased their price target on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Two equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,415.94.

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.