MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,197 shares of the company's stock after selling 10,328 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.19% of MercadoLibre worth $165,278,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MELI. Human Investing LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. raised its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its stake in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in shares of MercadoLibre in the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MELI shares. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Susquehanna boosted their price target 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. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Finally, Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $2,464.67.

MercadoLibre Trading Down 0.6 %

NASDAQ MELI traded down $14.10 on Wednesday, reaching $2,266.76. The stock had a trading volume of 265,807 shares, compared to its average volume of 384,778. 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 fifty day moving average price of $2,056.42 and a two-hundred day moving average price of $1,968.17. MercadoLibre, Inc. has a 12-month low of $1,427.95 and a 12-month high of $2,374.54. The firm has a market capitalization of $114.92 billion, a price-to-earnings ratio of 60.13, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.