Ardevora Asset Management LLP Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Ardevora Asset Management LLP lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,369 shares of the company's stock after selling 1,514 shares during the period. Ardevora Asset Management LLP's holdings in MercadoLibre were worth $10,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Raymond James Trust N.A. bought a new position in shares of MercadoLibre during the 1st quarter valued at about $236,000. Cibc World Market Inc. lifted its holdings in shares of MercadoLibre by 6.1% in the 1st quarter. Cibc World Market Inc. now owns 659 shares of the company's stock valued at $784,000 after acquiring an additional 38 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MercadoLibre by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 189 shares of the company's stock valued at $225,000 after acquiring an additional 15 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of MercadoLibre by 10.1% in the 1st quarter. Blair William & Co. IL now owns 2,878 shares of the company's stock valued at $3,423,000 after acquiring an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of MercadoLibre by 25.1% in the 1st quarter. Cetera Investment Advisers now owns 1,048 shares of the company's stock valued at $1,247,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a "buy" rating for the company in a report on Wednesday. Susquehanna increased their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a "positive" rating in a report on Friday, February 23rd. StockNews.com downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Thursday, February 29th. Finally, Barclays decreased their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an "overweight" rating for the company in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,813.85.

MercadoLibre Trading Down 1.0 %

Shares of NASDAQ:MELI traded down $13.82 during trading on Friday, reaching $1,356.43. 359,380 shares of the company were exchanged, compared to its average volume of 305,721. The firm has a market capitalization of $68.77 billion, a PE ratio of 69.42, a P/E/G ratio of 0.87 and a beta of 1.44. The business's fifty day simple moving average is $1,559.84 and its 200-day simple moving average is $1,527.58. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts' consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business's revenue was up 42.0% compared to the same quarter last year. During the same period last year, the business posted $3.25 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 35.77 EPS for the current 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.