MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 65.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,637 shares of the company's stock after selling 3,107 shares during the quarter. Cresset Asset Management LLC's holdings in MercadoLibre were worth $2,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after buying an additional 10,272 shares during the period. Oppenheimer & Co. Inc. lifted its position in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after acquiring an additional 143 shares during the period. Assenagon Asset Management S.A. boosted its stake in MercadoLibre by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company's stock worth $172,613,000 after acquiring an additional 11,166 shares in the last quarter. Ninety One North America Inc. purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $4,923,000. Finally, Paragon Capital Management Inc. increased its position in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company's stock valued at $2,784,000 after buying an additional 604 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock traded up $10.51 during trading hours on Tuesday, hitting $2,515.12. 361,279 shares of the stock traded hands, compared to its average volume of 382,365. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,560.59. The firm's 50 day moving average price is $2,089.82 and its 200-day moving average price is $1,984.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $127.51 billion, a price-to-earnings ratio of 66.71, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter last year, the company earned $6.78 EPS. The business's revenue was up 37.0% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MELI. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Raymond James raised MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,504.67.

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.