AdvisorNet Financial Inc Sells 80 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AdvisorNet Financial Inc cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,040 shares of the company’s stock after selling 80 shares during the period. AdvisorNet Financial Inc’s holdings in MercadoLibre were worth $1,572,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings in MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares during the last quarter. Norges Bank bought a new position in MercadoLibre during the 4th quarter valued at about $554,386,000. Morgan Stanley grew its holdings in MercadoLibre by 10.2% during the 3rd 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. International Assets Investment Management LLC grew its holdings in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in MercadoLibre by 1,432.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 1.1 %

NASDAQ MELI opened at $1,582.86 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66. The firm has a market cap of $80.25 billion, a PE ratio of 70.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.60. The company has a 50 day moving average price of $1,594.69 and a 200 day moving average price of $1,605.80. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business posted $3.97 EPS. MercadoLibre’s revenue for the quarter was up 36.0% compared to the same quarter last year. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on MELI shares. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. UBS Group lowered their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,881.92.

MercadoLibre Profile

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.