MercadoLibre, Inc. $MELI Shares Sold by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 26.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,310 shares of the company’s stock after selling 6,722 shares during the period. MercadoLibre makes up 1.7% of Itau Unibanco Holding S.A.’s holdings, making the stock its 18th largest position. Itau Unibanco Holding S.A.’s holdings in MercadoLibre were worth $47,856,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MELI. Optimize Financial Inc lifted its holdings in MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock valued at $464,000 after acquiring an additional 4 shares during the last quarter. Range Financial Group LLC boosted its holdings in MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after buying an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after buying an additional 5 shares in the last quarter. Forum Financial Management LP grew its position in MercadoLibre by 3.1% in the first quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of MercadoLibre by 37.5% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after buying an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MELI shares. Citigroup decreased their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Scotiabank started coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Finally, Barclays upped their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,854.71.

MercadoLibre Price Performance

MELI opened at $2,048.89 on Friday. The stock has a fifty day moving average price of $2,256.65 and a 200 day moving average price of $2,372.71. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The stock has a market cap of $103.87 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the firm posted $7.83 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.