Formuepleje A S Sells 1,200 Shares of MercadoLibre, Inc. $MELI

Formuepleje A S trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 48.5% during the second quarter, Holdings Channel.com reports. The fund owned 1,276 shares of the company’s stock after selling 1,200 shares during the quarter. Formuepleje A S’s holdings in MercadoLibre were worth $2,166,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre during the second quarter valued at about $29,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the 4th quarter worth about $28,000. Curio Wealth LLC bought a new stake in MercadoLibre in the 4th quarter worth about $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in MercadoLibre in the 3rd quarter valued at about $35,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup lifted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, UBS Group cut their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,978.36 on Monday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $1,859.43 and its 200 day moving average is $1,769.45. The stock has a market capitalization of $100.30 billion, a PE ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.31 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.