MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,894 shares of the company's stock after selling 6,751 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of MercadoLibre worth $237,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Park Square Financial Group LLC purchased a new position in MercadoLibre in the fourth quarter worth $26,000. Covestor Ltd bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $27,000. Heck Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth $32,000. VSM Wealth Advisory LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in MercadoLibre by 375.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after acquiring an additional 15 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MELI traded down $0.15 on Friday, reaching $2,560.05. 295,819 shares of the company's stock were exchanged, compared to its average volume of 387,339. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,635.88. The stock has a market cap of $129.79 billion, a PE ratio of 62.96, a P/E/G ratio of 1.52 and a beta of 1.51. The stock's fifty day moving average price is $2,432.13 and its 200-day moving average price is $2,109.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the firm posted $6.78 earnings per share. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MELI. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Benchmark downgraded shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.