Assetmark Inc. Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Assetmark Inc. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 38.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,478 shares of the company’s stock after selling 1,564 shares during the quarter. Assetmark Inc.’s holdings in MercadoLibre were worth $4,214,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares in the last quarter. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp lifted its stake in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in MercadoLibre by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after purchasing an additional 3,710 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Barclays increased their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Wedbush lowered their target price on shares of 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 issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

MELI stock opened at $2,009.34 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The firm’s fifty day moving average is $1,942.41 and its 200 day moving average is $1,969.92. The firm has a market cap of $101.87 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released 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 net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.