MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 798 shares of the company’s stock after selling 71 shares during the period. Valley National Advisers Inc.’s holdings in MercadoLibre were worth $1,637,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GQG Partners LLC boosted its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC boosted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,047.35 on Friday. The firm has a market cap of $103.80 billion, a PE ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61. The firm’s 50 day moving average price is $2,047.08 and its 200 day moving average price is $1,783.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a twelve month low of $1,162.73 and a twelve month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm posted $5.16 earnings per share. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several research reports. Susquehanna raised their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a report on Wednesday, October 2nd. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Citigroup raised their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.