MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Forsta AP Fonden

Forsta AP Fonden trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,000 shares of the company’s stock after selling 2,000 shares during the quarter. Forsta AP Fonden’s holdings in MercadoLibre were worth $19,721,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in shares of MercadoLibre during the 1st quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter worth about $36,000. Scarborough Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at approximately $36,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on MELI. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and upped their price target for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Barclays raised their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Citigroup increased their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, BTIG Research lifted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,140.10 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a market cap of $108.50 billion, a PE ratio of 95.75, a P/E/G ratio of 1.29 and a beta of 1.61. The firm has a 50 day simple moving average of $1,851.57 and a 200-day simple moving average of $1,669.20. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,142.59.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $5.16 EPS. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. On average, equities analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current year.

MercadoLibre 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.