MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 344 shares of the company’s stock after acquiring an additional 33 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in MercadoLibre were worth $585,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. State Street Corp lifted its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after acquiring an additional 12,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of MercadoLibre by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after acquiring an additional 3,710 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MELI shares. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Susquehanna upped their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday. Barclays upped their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Finally, Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $2,364.06.

MercadoLibre Stock Down 1.6 %

NASDAQ:MELI opened at $2,223.35 on Tuesday. The firm has a market capitalization of $112.72 billion, a PE ratio of 58.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The stock has a 50 day moving average of $1,875.83 and a 200-day moving average of $1,960.50. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. 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 posted its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Analysts predict that MercadoLibre, Inc. will post 43.96 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.