MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by PGGM Investments

PGGM Investments decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,657 shares of the company’s stock after selling 181 shares during the quarter. PGGM Investments’ holdings in MercadoLibre were worth $2,505,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. WCM Investment Management LLC grew its position in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. Capital International Investors boosted its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after buying an additional 4,317 shares during the last quarter. Capital World Investors boosted its stake in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC boosted its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MELI shares. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Wedbush reiterated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research note on Friday, May 3rd. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, StockNews.com upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $1,944.17.

MercadoLibre Stock Performance

Shares of MELI traded up $170.08 during trading hours on Friday, reaching $1,776.14. 958,293 shares of the company’s stock traded hands, compared to its average volume of 299,322. The firm has a market capitalization of $90.05 billion, a price-to-earnings ratio of 79.47, a P/E/G ratio of 1.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00. The business’s fifty day simple moving average is $1,647.02 and its two-hundred day simple moving average is $1,620.69.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.72 by $1.76. The company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a return on equity of 45.61% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period last year, the company earned $5.16 earnings per share. Analysts predict that MercadoLibre, Inc. will post 33.4 earnings per share for the current 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.