Wrapmanager Inc. Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Wrapmanager Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.1% in the 4th quarter, HoldingsChannel reports. The fund owned 149 shares of the company’s stock after selling 15 shares during the period. Wrapmanager Inc.’s holdings in MercadoLibre were worth $253,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in MELI. Strategic Financial Concepts LLC increased its holdings in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after acquiring an additional 181,849 shares during the last quarter. FMR LLC boosted its stake in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP boosted its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares during the period. Swedbank AB boosted its stake in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares during the period. Finally, Jennison Associates LLC boosted its stake in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,168.60 on Wednesday. The business has a 50 day moving average of $1,883.02 and a 200 day moving average of $1,962.50. The company has a market capitalization of $109.94 billion, a price-to-earnings ratio of 57.52, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. 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 (NASDAQ:MELI) last released its 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 company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of several analyst reports. Susquehanna raised their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Bank of America raised their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,385.94.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.