MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Vestcor Inc

Vestcor Inc trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,831 shares of the company’s stock after selling 214 shares during the period. Vestcor Inc’s holdings in MercadoLibre were worth $3,114,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB boosted its holdings in shares of 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 purchasing an additional 73,336 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of MercadoLibre by 19.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 427 shares of the company’s stock worth $876,000 after purchasing an additional 71 shares during the last quarter. Empower Advisory Group LLC boosted its holdings in shares of MercadoLibre by 67.7% during the 3rd quarter. Empower Advisory Group LLC now owns 696 shares of the company’s stock worth $1,428,000 after purchasing an additional 281 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of MercadoLibre by 1.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,609 shares of the company’s stock worth $15,613,000 after purchasing an additional 135 shares during the last quarter. Finally, Pier 88 Investment Partners LLC boosted its holdings in shares of MercadoLibre by 165.9% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 2,313 shares of the company’s stock worth $4,746,000 after purchasing an additional 1,443 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.8 %

MercadoLibre stock opened at $1,989.70 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The stock’s fifty day simple moving average is $1,963.24 and its 200-day simple moving average is $1,969.66. 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 capitalization of $100.87 billion, a P/E ratio of 52.78, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MELI. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Barclays lifted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Bank of America lifted 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, February 21st. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued 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 $2,402.81.

MercadoLibre 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.