MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,496 shares of the company's stock after selling 11,004 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.33% of MercadoLibre worth $264,798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Salem Investment Counselors Inc. lifted its stake in shares of MercadoLibre by 500.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 24 shares of the company's stock valued at $30,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $32,000. Blue Trust Inc. lifted its stake in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company's stock valued at $39,000 after purchasing an additional 9 shares during the period. Castleview Partners LLC lifted its stake in shares of MercadoLibre by 58.8% in the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company's stock valued at $32,000 after purchasing an additional 10 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $13.14 during trading hours on Monday, reaching $1,488.58. 196,894 shares of the company's stock were exchanged, compared to its average volume of 386,020. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The company has a market capitalization of $75.47 billion, a P/E ratio of 76.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The business has a fifty day moving average of $1,621.20 and a two-hundred day moving average of $1,515.58. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same period in the previous year, the company earned $3.25 EPS. MercadoLibre's quarterly revenue was up 42.0% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MELI. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Citigroup decreased their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a "buy" rating for the company in a research note on Wednesday, March 27th. Wedbush reissued an "outperform" rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. StockNews.com lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Thursday, February 29th. Finally, Susquehanna boosted their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a "positive" rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,806.15.

MercadoLibre 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.