Sumitomo Mitsui Trust Group Inc. Trims Position in MercadoLibre, Inc. $MELI

Key Points

• Sumitomo Mitsui Trust Group Inc. has reduced its stake in MercadoLibre, Inc. by 1.3%, leaving it with 220,630 shares valued at approximately $576.6 million.
• Several other institutional investors have increased their positions in MercadoLibre, with notable increases from Roman Butler Fullerton & Co. by 30.9%.
• Analysts have mixed opinions on MercadoLibre, with ratings varying from "strong buy" to "buy" and a consensus target price of $2,799.12.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 220,630 shares of the company's stock after selling 2,898 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.44% of MercadoLibre worth $576,645,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Blue Sky Capital Consultants Group Inc. grew its stake in MercadoLibre by 3.5% during the second quarter. Blue Sky Capital Consultants Group Inc. now owns 1,608 shares of the company's stock valued at $4,203,000 after acquiring an additional 55 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in MercadoLibre by 4.7% during the second quarter. Asset Management One Co. Ltd. now owns 34,003 shares of the company's stock valued at $88,871,000 after acquiring an additional 1,513 shares in the last quarter. CAP Partners LLC lifted its position in MercadoLibre by 5.7% during the second quarter. CAP Partners LLC now owns 387 shares of the company's stock valued at $1,011,000 after purchasing an additional 21 shares during the last quarter. KPP Advisory Services LLC lifted its position in MercadoLibre by 2.3% during the second quarter. KPP Advisory Services LLC now owns 578 shares of the company's stock valued at $1,511,000 after purchasing an additional 13 shares during the last quarter. Finally, Roman Butler Fullerton & Co. lifted its position in MercadoLibre by 30.9% during the second quarter. Roman Butler Fullerton & Co. now owns 551 shares of the company's stock valued at $1,440,000 after purchasing an additional 130 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several research reports. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Daiwa Capital Markets began coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. Citigroup lowered their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a report on Thursday, October 9th. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Benchmark restated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,799.12.

MercadoLibre Trading Up 1.0%

NASDAQ MELI opened at $2,168.88 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market capitalization of $109.96 billion, a price-to-earnings ratio of 53.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company's 50-day simple moving average is $2,320.26 and its two-hundred day simple moving average is $2,353.45. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the firm earned $10.48 EPS. The firm's quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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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