State of Wyoming Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

State of Wyoming lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 692 shares of the company's stock after selling 331 shares during the period. State of Wyoming's holdings in MercadoLibre were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oppenheimer & Co. Inc. lifted its holdings in MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Ninety One North America Inc. purchased a new position in shares of MercadoLibre in the fourth quarter worth about $4,923,000. Paragon Capital Management Inc. boosted its position in MercadoLibre by 58.5% during the fourth quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company's stock worth $2,784,000 after acquiring an additional 604 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. purchased a new stake in MercadoLibre during the 4th quarter valued at about $63,613,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in MercadoLibre during the 4th quarter valued at about $2,619,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.9%

NASDAQ MELI traded up $22.76 on Wednesday, reaching $2,601.97. The stock had a trading volume of 344,434 shares, compared to its average volume of 383,113. The firm has a market capitalization of $131.91 billion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.12 and a beta of 1.61. 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 12-month low of $1,550.00 and a 12-month high of $2,623.52. The stock has a fifty day moving average price of $2,158.30 and a two-hundred day moving average price of $2,007.13.

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

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Cantor Fitzgerald lowered their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays boosted their target price on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,551.43.

MercadoLibre 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.