Motley Fool Wealth Management LLC Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Motley Fool Wealth Management LLC trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.9% during the fourth quarter, HoldingsChannel reports. The fund owned 28,255 shares of the company’s stock after selling 2,423 shares during the period. MercadoLibre comprises about 2.5% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Motley Fool Wealth Management LLC’s holdings in MercadoLibre were worth $48,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after buying an additional 21 shares during the last quarter. Cerity Partners LLC raised its holdings 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 purchasing an additional 993 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of MercadoLibre by 11.2% in the third 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 boosted its holdings in MercadoLibre by 318.7% during the third quarter. Algert Global LLC now owns 1,633 shares of the company’s stock worth $3,351,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Pitcairn Co. grew its position in MercadoLibre by 5.6% in the third quarter. Pitcairn Co. now owns 282 shares of the company’s stock valued at $579,000 after purchasing an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of several analyst reports. Wedbush dropped their target price 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. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,191.30 on Wednesday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $111.09 billion, a price-to-earnings ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64. The stock’s fifty day moving average price is $2,014.23 and its two-hundred day moving average price is $1,972.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS 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.