Sequoia Financial Advisors LLC Lowers Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Sequoia Financial Advisors LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,104 shares of the company's stock after selling 501 shares during the period. Sequoia Financial Advisors LLC's holdings in MercadoLibre were worth $2,154,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Covestor Ltd acquired a new position in shares of MercadoLibre in the 4th quarter valued at $27,000. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. VSM Wealth Advisory LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $37,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock valued at $37,000 after acquiring an additional 15 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Barclays increased their price target on 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 target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald lowered their target price 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. Finally, UBS Group set a $3,000.00 target price on shares of MercadoLibre in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Stock Down 0.0%

Shares of NASDAQ MELI opened at $2,560.05 on Friday. The company has a 50 day simple moving average of $2,432.13 and a 200-day simple moving average of $2,110.99. The company has a market capitalization of $129.79 billion, a P/E ratio of 62.96, a P/E/G ratio of 1.52 and a beta of 1.51. 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 1 year low of $1,563.21 and a 1 year high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter last year, the firm earned $6.78 EPS. The business's revenue was up 37.0% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.

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