MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 65.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 294 shares of the company's stock after selling 567 shares during the quarter. Nisa Investment Advisors LLC's holdings in MercadoLibre were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG purchased a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $561,000. Commonwealth Equity Services LLC lifted its stake in MercadoLibre by 0.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,403 shares of the company's stock worth $14,289,000 after purchasing an additional 45 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in MercadoLibre by 69.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,445 shares of the company's stock worth $5,858,000 after purchasing an additional 1,411 shares in the last quarter. Harbour Investments Inc. lifted its stake in MercadoLibre by 2.1% in the 4th quarter. Harbour Investments Inc. now owns 839 shares of the company's stock worth $1,427,000 after purchasing an additional 17 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of MercadoLibre by 9.7% in the 4th quarter. Parallel Advisors LLC now owns 215 shares of the company's stock worth $366,000 after buying an additional 19 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna reissued a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Stock Down 1.1%

MercadoLibre stock traded down $25.64 during midday trading on Thursday, hitting $2,379.51. 176,309 shares of the company's stock were exchanged, compared to its average volume of 387,105. 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, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The firm has a 50-day moving average of $2,494.78 and a two-hundred day moving average of $2,171.90. The company has a market cap of $120.63 billion, a PE ratio of 58.58, a P/E/G ratio of 1.42 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the business earned $6.78 EPS. The company's revenue 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 fiscal year.

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.