DAVENPORT & Co LLC Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

DAVENPORT & Co LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MELI. Envestnet Asset Management Inc. increased its position in shares of MercadoLibre by 99.3% during the third quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after purchasing an additional 26,679 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of MercadoLibre by 0.9% in the third quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after buying an additional 14 shares in the last quarter. California Public Employees Retirement System boosted its position in MercadoLibre by 1.5% during the third quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock worth $113,237,000 after acquiring an additional 1,277 shares during the last quarter. Vanguard Group Inc. boosted its position in MercadoLibre by 2.3% during the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after acquiring an additional 4,065 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in MercadoLibre by 584.1% during the 3rd quarter. Equitable Trust Co. now owns 1,594 shares of the company’s stock valued at $2,021,000 after acquiring an additional 1,361 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Analysis on MercadoLibre

MercadoLibre Price Performance

MELI opened at $1,504.98 on Thursday. The firm has a market cap of $76.30 billion, a price-to-earnings ratio of 77.02, a PEG ratio of 0.99 and a beta of 1.44. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock’s 50-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 earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the company earned $3.25 earnings per share. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 36.06 earnings per share for the current year.

MercadoLibre Company 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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