MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81 shares of the company’s stock after selling 46 shares during the period. Allworth Financial LP’s holdings in MercadoLibre were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Morgan Stanley increased 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 period. Jennison Associates LLC grew its holdings in MercadoLibre by 1.3% during the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after acquiring an additional 28,095 shares during the period. WCM Investment Management LLC grew its holdings in MercadoLibre by 6,564.6% during the third quarter. WCM Investment Management LLC now owns 665,189 shares of the company’s stock worth $842,508,000 after acquiring an additional 655,208 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 worth $401,841,000 after acquiring an additional 111,751 shares during the period. Finally, William Blair Investment Management LLC grew 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 acquiring an additional 23,699 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 4.2 %

Shares of NASDAQ:MELI opened at $1,444.14 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The stock’s fifty day simple moving average is $1,594.55 and its 200-day simple moving average is $1,519.20. The company has a market capitalization of $73.22 billion, a P/E ratio of 73.91, a P/E/G ratio of 0.95 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company earned $3.25 earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MELI shares. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price objective on shares of MercadoLibre in a report on Tuesday, March 5th. Barclays dropped their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Citigroup dropped their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,806.15.

About MercadoLibre

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.