Ashton Thomas Private Wealth LLC Sells 233 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ashton Thomas Private Wealth LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 92.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20 shares of the company’s stock after selling 233 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in MercadoLibre were worth $33,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Capital International Investors increased its position in MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after buying an additional 4,317 shares in the last quarter. Capital World Investors increased its position in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares in the last quarter. GQG Partners LLC increased its position in 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 buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% in the first 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 during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 55.8% in the first 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 during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,105.51 on Tuesday. The company has a fifty day simple moving average of $1,869.28 and a 200-day simple moving average of $1,677.47. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $106.74 billion, a price-to-earnings ratio of 94.21, a PEG ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company 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 company posted $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Cantor Fitzgerald initiated coverage on MercadoLibre in a research note on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price on the stock. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and upped their target price for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,182.92.

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.