MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Avanza Fonder AB

Avanza Fonder AB decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,007 shares of the company’s stock after selling 155 shares during the quarter. Avanza Fonder AB’s holdings in MercadoLibre were worth $7,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. 1620 Investment Advisors Inc. increased its stake in MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares during the period. Texas Yale Capital Corp. boosted its holdings in shares of MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock valued at $2,779,000 after acquiring an additional 5 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after acquiring an additional 5 shares during the period. Formidable Asset Management LLC increased its stake in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after acquiring an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $2,448.60 on Tuesday. The stock’s 50 day moving average price is $2,298.62 and its 200 day moving average price is $2,066.22. The firm has a market cap of $124.14 billion, a P/E ratio of 64.95, a PEG ratio of 1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business’s revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.78 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MELI shares. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Friday. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,613.75.

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.