MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,744 shares of the company’s stock after selling 45 shares during the quarter. MercadoLibre accounts for approximately 1.1% of Banco BTG Pactual S.A.’s holdings, making the stock its 21st largest position. Banco BTG Pactual S.A.’s holdings in MercadoLibre were worth $4,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its holdings in MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after buying an additional 21 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of MercadoLibre by 25.6% in the third quarter. Cerity Partners LLC now owns 4,875 shares of the company’s stock valued at $10,003,000 after buying an additional 993 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of MercadoLibre by 11.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 426 shares of the company’s stock worth $874,000 after purchasing an additional 43 shares in the last quarter. Algert Global LLC increased its stake in MercadoLibre by 318.7% in the third quarter. Algert Global LLC now owns 1,633 shares of the company’s stock valued at $3,351,000 after acquiring an additional 1,243 shares during the period. Finally, Pitcairn Co. raised its stake in MercadoLibre by 5.6% during the third quarter. Pitcairn Co. now owns 282 shares of the company’s stock worth $579,000 after acquiring an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 2.7 %

MELI opened at $2,191.30 on Wednesday. The business’s fifty day simple moving average is $2,014.23 and its 200 day simple moving average is $1,972.78. The stock has a market cap of $111.09 billion, a PE ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent research reports. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Cantor Fitzgerald upped their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Susquehanna boosted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Finally, Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $2,402.81.

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.