MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,755 shares of the company's stock after selling 10,274 shares during the period. Royal Bank of Canada owned 0.33% of MercadoLibre worth $283,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Capital International Investors lifted its stake in MercadoLibre by 38.7% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 41.0% in the 4th 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 purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $565,306,000. Capital World Investors lifted its stake in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Finally, Norges Bank purchased a new position in MercadoLibre during the 4th quarter valued at about $383,051,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Barclays increased their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. StockNews.com downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,551.43.

MercadoLibre Stock Up 0.9%

MercadoLibre stock traded up $22.76 during mid-day trading on Wednesday, hitting $2,601.97. The company had a trading volume of 344,434 shares, compared to its average volume of 383,113. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,623.52. The business has a fifty day moving average of $2,158.30 and a 200 day moving average of $2,007.13. The stock has a market cap of $131.91 billion, a price-to-earnings ratio of 69.02, a PEG ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the prior year, the business posted $6.78 EPS. The company's revenue for the quarter was up 37.0% on a year-over-year basis. On average, sell-side 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.