Thornburg Investment Management Inc. Sells 2,374 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Thornburg Investment Management Inc. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 33,154 shares of the company's stock after selling 2,374 shares during the period. Thornburg Investment Management Inc. owned approximately 0.07% of MercadoLibre worth $56,376,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Toronto Dominion Bank lifted its position in MercadoLibre by 9.5% in the fourth quarter. Toronto Dominion Bank now owns 6,533 shares of the company's stock worth $11,109,000 after purchasing an additional 566 shares during the period. Steadfast Capital Management LP bought a new position in shares of MercadoLibre during the 4th quarter worth about $10,842,000. Snowden Capital Advisors LLC boosted its position in shares of MercadoLibre by 5.3% during the 4th quarter. Snowden Capital Advisors LLC now owns 906 shares of the company's stock valued at $1,541,000 after acquiring an additional 46 shares in the last quarter. Siemens Fonds Invest GmbH increased its stake in MercadoLibre by 480.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 11,886 shares of the company's stock valued at $20,211,000 after acquiring an additional 9,838 shares during the period. Finally, Skye Global Management LP raised its position in MercadoLibre by 113.0% in the fourth quarter. Skye Global Management LP now owns 7,200 shares of the company's stock worth $12,243,000 after purchasing an additional 3,820 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased 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. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus price target of $2,572.86.

MercadoLibre Trading Down 2.7%

MELI stock traded down $69.26 during trading on Friday, hitting $2,536.75. The company had a trading volume of 182,107 shares, compared to its average volume of 421,513. The firm has a 50-day moving average price of $2,179.91 and a 200-day moving average price of $2,014.97. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $128.61 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.78 earnings per share. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.