Keybank National Association OH Sells 142 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Keybank National Association OH cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,894 shares of the company's stock after selling 142 shares during the quarter. Keybank National Association OH's holdings in MercadoLibre were worth $3,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. 1620 Investment Advisors Inc. raised its holdings in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares in the last quarter. Texas Yale Capital Corp. increased its position in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after purchasing an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Cantor Fitzgerald dropped 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 note on Wednesday, June 11th. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Stock Performance

MELI stock traded up $34.98 during midday trading on Friday, hitting $2,507.03. The stock had a trading volume of 194,179 shares, compared to its average volume of 388,884. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $2,463.43 and a 200 day simple moving average of $2,128.17. The firm has a market capitalization of $127.10 billion, a price-to-earnings ratio of 61.66, a P/E/G ratio of 1.47 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm's revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the firm earned $6.78 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.