MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Investmentaktiengesellschaft Fuer Langfristige Investoren TGV

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,200 shares of the company’s stock after selling 450 shares during the period. MercadoLibre comprises approximately 0.2% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings, making the stock its 14th biggest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in MercadoLibre were worth $2,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its holdings in MercadoLibre by 14.2% during the 1st quarter. William Blair Investment Management LLC now owns 366,157 shares of the company’s stock worth $482,617,000 after acquiring an additional 45,580 shares in the last quarter. AXA S.A. boosted its holdings in shares of MercadoLibre by 10.3% in the 1st quarter. AXA S.A. now owns 25,999 shares of the company’s stock valued at $34,268,000 after buying an additional 2,421 shares during the period. Brighton Jones LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at about $369,000. Deuterium Capital Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at about $815,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of MercadoLibre by 0.3% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 8,250 shares of the company’s stock valued at $10,874,000 after buying an additional 22 shares during the period. 80.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Wolfe Research decreased their price target on shares of MercadoLibre from $1,700.00 to $1,400.00 in a report on Monday, July 10th. Wedbush initiated coverage on shares of MercadoLibre in a research report on Monday, August 21st. They issued an “outperform” rating and a $1,500.00 price objective on the stock. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1,400.00 to $1,650.00 in a research report on Friday, September 1st. Finally, Bank of America downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the company from $1,680.00 to $1,350.00 in a research report on Monday, July 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,645.00.

MercadoLibre Stock Up 1.0 %

MELI stock opened at $1,396.66 on Friday. MercadoLibre, Inc. has a 52 week low of $754.76 and a 52 week high of $1,451.56. The company has a market capitalization of $69.96 billion, a price-to-earnings ratio of 93.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.51. The firm’s 50-day moving average is $1,276.27 and its two-hundred day moving average is $1,254.58. The company has a current ratio of 1.28, a quick ratio of 1.25 and a debt-to-equity ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $1.03. MercadoLibre had a net margin of 6.23% and a return on equity of 39.07%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same period in the previous year, the firm earned $2.43 EPS. MercadoLibre’s revenue was up 31.5% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 20.56 earnings per share for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.