Avanza Fonder AB Sells 155 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Avanza Fonder AB cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,007 shares of the company's stock after selling 155 shares during the quarter. Avanza Fonder AB's holdings in MercadoLibre were worth $7,750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its position in shares of MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the period. Wealthfront Advisers LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $565,306,000. Capital World Investors boosted its holdings in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MercadoLibre during the 4th quarter worth about $383,051,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 2.1%

NASDAQ:MELI traded down $52.16 during trading hours on Tuesday, reaching $2,396.44. 501,406 shares of the stock were exchanged, compared to its average volume of 383,204. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,635.88. The stock has a market cap of $121.49 billion, a PE ratio of 63.57, a PEG ratio of 1.12 and a beta of 1.51. The firm has a 50 day moving average of $2,298.62 and a 200 day moving average of $2,066.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company's revenue was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.78 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Benchmark lowered shares of MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. One equities research 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 company's stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,613.75.

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.