Redwood Investments LLC Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

Redwood Investments LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,065 shares of the company's stock after selling 790 shares during the quarter. MercadoLibre comprises approximately 1.4% of Redwood Investments LLC's portfolio, making the stock its 20th largest position. Redwood Investments LLC's holdings in MercadoLibre were worth $5,212,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MELI. Human Investing LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its stake 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 in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of MercadoLibre by 100.0% in the fourth 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 acquired a new position in shares of MercadoLibre in the fourth quarter worth $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MELI shares. Bank of America boosted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Barclays boosted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,521.33.

MercadoLibre Stock Performance

MELI traded down $1.57 on Friday, reaching $2,584.92. The company had a trading volume of 279,704 shares, compared to its average volume of 383,139. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,610.30. The stock has a market capitalization of $131.05 billion, a PE ratio of 68.57, 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. The stock has a 50-day moving average price of $2,135.04 and a 200-day moving average price of $1,999.73.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the company earned $6.78 earnings per share. MercadoLibre's quarterly revenue was up 37.0% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.