Sumitomo Mitsui Trust Group Inc. Sells 12,069 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,528 shares of the company's stock after selling 12,069 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.44% of MercadoLibre worth $436,074,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MELI. 1620 Investment Advisors Inc. boosted its stake in MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after acquiring an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its holdings in MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after purchasing an additional 5 shares during the period. Meiji Yasuda Life Insurance Co raised its holdings in MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC raised its holdings in MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,560.05 on Friday. The company has a market capitalization of $129.79 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The company has a 50-day simple moving average of $2,432.13 and a 200 day simple moving average of $2,109.52. MercadoLibre, Inc. has a 52 week low of $1,563.21 and a 52 week high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.78 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. The Goldman Sachs Group raised their price objective 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. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a report on Monday, June 2nd. Finally, Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2,645.94.

About MercadoLibre

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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