Blueshift Asset Management LLC Sells 363 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Blueshift Asset Management LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 73.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131 shares of the company’s stock after selling 363 shares during the quarter. Blueshift Asset Management LLC’s holdings in MercadoLibre were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MELI. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth $565,306,000. Strategic Financial Concepts LLC raised its position in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares during the last quarter. FMR LLC raised its position in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP raised its position in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Swedbank AB raised its position in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 1.3 %

NASDAQ MELI opened at $2,095.27 on Friday. The business has a 50 day simple moving average of $1,997.59 and a 200 day simple moving average of $1,970.80. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The stock has a market capitalization of $106.22 billion, a P/E ratio of 55.58, a P/E/G ratio of 1.12 and a beta of 1.64. 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Company 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.