Sequoia Financial Advisors LLC Has $1.58 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sequoia Financial Advisors LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 62.5% during the first quarter, HoldingsChannel reports. The firm owned 1,044 shares of the company’s stock after selling 1,738 shares during the period. Sequoia Financial Advisors LLC’s holdings in MercadoLibre were worth $1,579,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MELI. First PREMIER Bank bought a new stake in shares of MercadoLibre in the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth $28,000. Archer Investment Corp bought a new position in MercadoLibre during the fourth quarter worth $31,000. Larson Financial Group LLC bought a new position in MercadoLibre during the fourth quarter worth $36,000. Finally, DSM Capital Partners LLC bought a new position in MercadoLibre during the fourth quarter worth $36,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. Barclays increased their target price on shares of MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. Finally, Citigroup decreased their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Stock Performance

MELI stock traded up $67.52 on Friday, hitting $1,658.96. The company had a trading volume of 354,495 shares, compared to its average volume of 237,347. The stock’s 50-day simple moving average is $1,639.41 and its 200 day simple moving average is $1,607.18. The stock has a market cap of $84.11 billion, a price-to-earnings ratio of 74.23, a P/E/G ratio of 1.16 and a beta of 1.60. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.97 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 33.81 earnings per share for the current fiscal 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.