MercadoLibre, Inc. $MELI Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% during the 4th quarter, HoldingsChannel reports. The fund owned 61,596 shares of the company’s stock after selling 8,364 shares during the quarter. Geode Capital Management LLC’s holdings in MercadoLibre were worth $118,813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC boosted its position in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the last quarter. Focus Partners Wealth boosted its position in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of MercadoLibre during the 2nd quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.7%

Shares of MELI opened at $1,607.80 on Friday. The stock has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company’s 50-day simple moving average is $1,720.81 and its 200-day simple moving average is $1,887.84.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the company posted $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Finally, UBS Group decreased their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,255.33.

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.