Polen Capital Management LLC Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Polen Capital Management LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,595 shares of the company’s stock after selling 2,420 shares during the period. Polen Capital Management LLC owned 0.07% of MercadoLibre worth $62,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GWN Securities Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter worth $409,000. Harbour Investments Inc. increased its stake in shares of MercadoLibre by 2.1% in the fourth quarter. Harbour Investments Inc. now owns 839 shares of the company’s stock worth $1,427,000 after acquiring an additional 17 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of MercadoLibre by 69.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,445 shares of the company’s stock worth $5,858,000 after acquiring an additional 1,411 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of MercadoLibre by 1.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 770 shares of the company’s stock worth $1,309,000 after acquiring an additional 14 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter worth $273,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,021.37 on Monday. The company’s 50-day moving average price is $1,966.98 and its 200-day moving average price is $1,969.13. 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 company has a market cap of $102.48 billion, a P/E ratio of 53.62, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MELI shares. Susquehanna increased their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Raymond James upgraded 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. Wedbush dropped 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. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Bank of America raised 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average price target 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.