Wealthspire Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Wealthspire Advisors LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 351 shares of the company’s stock after selling 27 shares during the period. Wealthspire Advisors LLC’s holdings in MercadoLibre were worth $597,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Swedbank AB grew its position in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Allworth Financial LP boosted its stake in MercadoLibre by 21.1% in the 3rd quarter. Allworth Financial LP now owns 339 shares of the company’s stock worth $696,000 after purchasing an additional 59 shares during the period. PFG Investments LLC grew its holdings in MercadoLibre by 75.9% during the 3rd quarter. PFG Investments LLC now owns 329 shares of the company’s stock valued at $675,000 after buying an additional 142 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of MercadoLibre by 62.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,187 shares of the company’s stock valued at $8,592,000 after buying an additional 1,605 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new position in shares of MercadoLibre in the third quarter worth $255,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,168.60 on Wednesday. The firm has a market capitalization of $109.94 billion, a PE ratio of 57.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a 50-day moving average price of $1,883.02 and a 200-day moving average price of $1,962.50. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during 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, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Barclays raised their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Two equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,385.94.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

About MercadoLibre

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.