MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 73.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122 shares of the company's stock after selling 3,124 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in MercadoLibre were worth $1,908,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MELI. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Barclays upped their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday. 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. Finally, Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,504.67.

MercadoLibre Stock Performance

NASDAQ MELI traded up $42.53 on Friday, hitting $2,452.53. The stock had a trading volume of 382,692 shares, compared to its average volume of 381,235. The company's 50-day moving average is $2,081.98 and its two-hundred day moving average is $1,982.03. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,501.00. The stock has a market cap of $124.34 billion, a price-to-earnings ratio of 65.05, 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 (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the previous year, the business earned $6.78 EPS. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. On average, analysts expect 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.