MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,571 shares of the company’s stock after selling 1,197 shares during the quarter. AustralianSuper Pty Ltd’s holdings in MercadoLibre were worth $3,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meitav Investment House Ltd. acquired a new stake in shares of MercadoLibre in the 3rd quarter worth $1,231,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in MercadoLibre by 4,100.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 42 shares of the company’s stock valued at $86,000 after purchasing an additional 41 shares in the last quarter. 1620 Investment Advisors Inc. increased its position in MercadoLibre by 3.7% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after purchasing an additional 7 shares during the period. Diversify Wealth Management LLC increased its position in MercadoLibre by 4.2% during the 3rd quarter. Diversify Wealth Management LLC now owns 398 shares of the company’s stock worth $811,000 after purchasing an additional 16 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in shares of MercadoLibre by 16.1% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 613 shares of the company’s stock worth $1,258,000 after buying an additional 85 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 0.8 %

Shares of NASDAQ:MELI opened at $2,037.18 on Friday. The stock has a 50-day simple moving average of $2,049.29 and a 200-day simple moving average of $1,797.09. The stock has a market capitalization of $103.29 billion, a P/E ratio of 73.62, a PEG ratio of 1.23 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,205.80 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm earned $5.16 earnings per share. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 37.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Bank of America upped their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

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.