MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Saturna Capital Corp

Saturna Capital Corp cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,550 shares of the company's stock after selling 235 shares during the quarter. Saturna Capital Corp's holdings in MercadoLibre were worth $4,975,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI purchased a new stake in MercadoLibre during the 1st quarter valued at about $221,000. Forum Financial Management LP grew its stake in MercadoLibre by 3.1% during the 1st quarter. Forum Financial Management LP now owns 199 shares of the company's stock valued at $388,000 after purchasing an additional 6 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in MercadoLibre by 3.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 474 shares of the company's stock valued at $925,000 after purchasing an additional 15 shares during the last quarter. Woodward Diversified Capital LLC grew its stake in MercadoLibre by 14.5% during the 1st quarter. Woodward Diversified Capital LLC now owns 663 shares of the company's stock valued at $1,293,000 after purchasing an additional 84 shares during the last quarter. Finally, Ascent Wealth Partners LLC grew its stake in MercadoLibre by 1.7% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,227 shares of the company's stock valued at $4,345,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MELI. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Benchmark cut MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna reaffirmed 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. Finally, JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $2,645.94.

MercadoLibre Stock Performance

Shares of MELI traded up $62.43 during midday trading on Friday, reaching $2,413.57. 319,769 shares of the stock were exchanged, compared to its average volume of 388,965. The business's 50-day moving average price is $2,492.77 and its 200 day moving average price is $2,184.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a market capitalization of $122.37 billion, a price-to-earnings ratio of 59.36, a PEG ratio of 1.43 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping 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 business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter in the previous year, the firm earned $6.78 earnings per share. The business's revenue was up 37.0% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.