Plato Investment Management Ltd Sells 441 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Plato Investment Management Ltd cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.6% during the fourth quarter, Holdings Channel reports. The fund owned 955 shares of the company’s stock after selling 441 shares during the period. Plato Investment Management Ltd’s holdings in MercadoLibre were worth $1,630,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MELI. Strategic Financial Concepts LLC grew its position in MercadoLibre by 169,952.3% during 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 grew its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Wellington Management Group LLP grew its position in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Swedbank AB grew its position in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC grew its position in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MELI stock opened at $2,070.41 on Tuesday. The business’s 50-day moving average price is $1,916.76 and its two-hundred day moving average price is $1,968.19. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $104.96 billion, a PE ratio of 54.92, a P/E/G 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.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MELI shares. Bank of America lifted their target price 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. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley lowered their target price on 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 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.