Stelleo Tolda Sells 246 Shares of MercadoLibre (NASDAQ:MELI) Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Stelleo Tolda sold 246 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a legal filing with the SEC, which is available at this link.

MercadoLibre Price Performance

MELI traded up $49.08 during trading on Thursday, hitting $2,019.81. The company’s stock had a trading volume of 522,334 shares, compared to its average volume of 429,841. The firm has a market capitalization of $102.40 billion, a price-to-earnings ratio of 49.29, a P/E/G ratio of 1.49 and a beta of 1.42. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The business’s fifty day simple moving average is $2,128.81 and its 200 day simple moving average is $2,322.08. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the business earned $7.83 EPS. The company’s quarterly revenue was up 39.5% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group raised its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Saudi Central Bank acquired a new stake in shares of MercadoLibre during the 1st quarter worth approximately $35,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of MercadoLibre during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of several research analyst reports. Wedbush upped their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Benchmark reduced their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

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.