MercadoLibre, Inc. (NASDAQ:MELI) is Hardman Johnston Global Advisors LLC’s Largest Position

Hardman Johnston Global Advisors LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,089 shares of the company’s stock after selling 48,742 shares during the period. MercadoLibre makes up approximately 8.2% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its largest position. Hardman Johnston Global Advisors LLC owned approximately 0.23% of MercadoLibre worth $199,103,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Human Investing LLC purchased a new position in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth about $32,000. Finally, Mather Group LLC. lifted its position in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MELI. 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. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Cantor Fitzgerald upped 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, Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2,364.06.

Insiders Place Their Bets

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

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,260.00 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The business has a fifty day simple moving average of $1,867.29 and a 200-day simple moving average of $1,958.01. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $114.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62.

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

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.