Ieq Capital LLC Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ieq Capital LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,878 shares of the company’s stock after selling 378 shares during the quarter. Ieq Capital LLC’s holdings in MercadoLibre were worth $3,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MELI. Swedbank AB increased its position in shares of MercadoLibre by 352.8% in the third 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 last quarter. Signaturefd LLC increased its holdings in shares of MercadoLibre by 7.0% in the 3rd quarter. Signaturefd LLC now owns 260 shares of the company’s stock worth $534,000 after buying an additional 17 shares during the last quarter. Greenleaf Trust purchased a new stake in shares of MercadoLibre during the 3rd quarter valued at $271,000. Dakota Wealth Management lifted its holdings in shares of MercadoLibre by 156.8% during the 3rd quarter. Dakota Wealth Management now owns 2,545 shares of the company’s stock worth $5,222,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Tectonic Advisors LLC grew its position in MercadoLibre by 30.4% in the third quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock worth $334,000 after acquiring an additional 38 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on MELI. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Stock Up 7.1 %

NASDAQ MELI opened at $2,260.00 on Friday. The business’s 50-day moving average is $1,867.29 and its 200 day moving average is $1,957.32. The stock has a market capitalization of $114.58 billion, a PE ratio of 59.95, a PEG ratio of 1.12 and a beta of 1.62. 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 1 year low of $1,324.99 and a 1 year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.