Dorsey & Whitney Trust CO LLC Sells 63 Shares of MercadoLibre, Inc. $MELI

Dorsey & Whitney Trust CO LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 26.7% in the 1st quarter, Holdings Channel reports. The firm owned 173 shares of the company’s stock after selling 63 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in MercadoLibre were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Bank Pictet & Cie Europe AG bought a new position in MercadoLibre in the fourth quarter worth $561,000. First Trust Advisors LP lifted its position in MercadoLibre by 25.1% in the fourth quarter. First Trust Advisors LP now owns 13,004 shares of the company’s stock worth $22,113,000 after purchasing an additional 2,609 shares during the period. OneDigital Investment Advisors LLC raised its stake in MercadoLibre by 35.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 772 shares of the company’s stock worth $1,313,000 after acquiring an additional 200 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in MercadoLibre by 4.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 755 shares of the company’s stock worth $1,284,000 after acquiring an additional 34 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth $202,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,430.62 on Friday. The stock has a 50-day simple moving average of $2,411.33 and a 200 day simple moving average of $2,273.82. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $123.23 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the prior year, the firm earned $10.48 earnings per share. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective for the company. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank assumed coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective for the company. Finally, Wedbush set a $2,700.00 price objective on MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,817.22.

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.