Smartleaf Asset Management LLC Sells 29 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Smartleaf Asset Management LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 41.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41 shares of the company’s stock after selling 29 shares during the period. Smartleaf Asset Management LLC’s holdings in MercadoLibre were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Swedbank AB boosted its holdings in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the period. QRG Capital Management Inc. bought a new stake in MercadoLibre during the 3rd quarter valued at $293,000. Washington Trust Advisors Inc. lifted its holdings in shares of MercadoLibre by 1,100.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 36 shares of the company’s stock worth $73,000 after buying an additional 33 shares during the period. Verdence Capital Advisors LLC grew its position in shares of MercadoLibre by 62.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 575 shares of the company’s stock worth $1,180,000 after buying an additional 220 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of MercadoLibre by 11.1% during the third quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock valued at $8,294,000 after buying an additional 404 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Barclays lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,009.34 on Monday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a market cap of $101.87 billion, a PE ratio of 53.30, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a 50-day simple moving average of $1,942.41 and a two-hundred day simple moving average of $1,969.65.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.