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

abrdn plc trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 145,518 shares of the company’s stock after selling 8,593 shares during the period. abrdn plc’s holdings in MercadoLibre were worth $228,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MELI. Morgan Stanley raised its holdings in MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 1.3% in the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after buying an additional 28,095 shares during the period. WCM Investment Management LLC boosted its stake in shares of MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 30.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after acquiring an additional 111,751 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in MercadoLibre by 6.1% in the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock valued at $521,492,000 after acquiring an additional 23,699 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. UBS Group dropped their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Citigroup dropped their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $1,813.85.

MercadoLibre Stock Down 1.0 %

MercadoLibre stock traded down $13.82 during trading on Friday, reaching $1,356.43. 359,380 shares of the company’s stock were exchanged, compared to its average volume of 305,721. The company’s 50-day moving average is $1,559.84 and its two-hundred day moving average is $1,523.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a market cap of $68.77 billion, a price-to-earnings ratio of 69.42, a PEG ratio of 0.88 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.25 EPS. On average, analysts predict that MercadoLibre, Inc. will post 35.77 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.