DekaBank Deutsche Girozentrale Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

DekaBank Deutsche Girozentrale reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,926 shares of the company's stock after selling 1,611 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of MercadoLibre worth $108,119,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter worth about $26,000. Covestor Ltd bought a new stake in MercadoLibre during the 4th quarter worth about $27,000. Heck Capital Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth about $32,000. VSM Wealth Advisory LLC bought a new stake in MercadoLibre during the 4th quarter worth about $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in MercadoLibre by 375.0% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after buying an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 3.0%

Shares of NASDAQ MELI traded down $74.98 during midday trading on Thursday, hitting $2,402.10. 472,346 shares of the company traded hands, compared to its average volume of 388,757. MercadoLibre, Inc. has a 12-month low of $1,579.78 and a 12-month high of $2,645.22. The firm has a market cap of $121.79 billion, a P/E ratio of 59.08, a P/E/G ratio of 1.47 and a beta of 1.49. The stock has a 50-day moving average price of $2,481.74 and a 200 day moving average price of $2,149.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

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.