MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,988 shares of the company’s stock after selling 156 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in MercadoLibre were worth $6,131,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital World Investors lifted its holdings in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. GQG Partners LLC lifted its stake in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc grew its position in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a report on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,054.90 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $104.18 billion, a PE ratio of 74.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,310.31 and a 12-month high of $2,161.73. The company has a 50 day moving average price of $2,050.38 and a two-hundred day moving average price of $1,804.35.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm posted $5.16 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal 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.