DAVENPORT & Co LLC Sells 644 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

DAVENPORT & Co LLC decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 12.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,710 shares of the company’s stock after selling 644 shares during the quarter. DAVENPORT & Co LLC’s holdings in MercadoLibre were worth $7,402,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Morgan Stanley raised its holdings in shares of MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after purchasing an additional 236,744 shares during the last quarter. Jennison Associates LLC raised its stake in shares of MercadoLibre by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after purchasing an additional 28,095 shares during the period. WCM Investment Management LLC boosted its holdings in shares of MercadoLibre by 6,564.6% in the 3rd quarter. WCM Investment Management LLC now owns 665,189 shares of the company’s stock worth $842,508,000 after buying an additional 655,208 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in MercadoLibre by 30.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock valued at $401,841,000 after buying an additional 111,751 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in MercadoLibre by 6.1% during the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after buying an additional 23,699 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup decreased their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Susquehanna upped their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,806.15.

Check Out Our Latest Stock Report on MELI

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,504.98 on Thursday. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The firm has a market capitalization of $76.30 billion, a price-to-earnings ratio of 77.02, a PEG ratio of 0.99 and a beta of 1.44. The company’s fifty day moving average price is $1,637.26 and its 200-day moving average price is $1,512.47.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.25 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 36.06 earnings per share for the current fiscal year.

MercadoLibre Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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