Ensign Peak Advisors Inc Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Ensign Peak Advisors Inc reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,699 shares of the company’s stock after selling 3,308 shares during the quarter. Ensign Peak Advisors Inc owned about 0.09% of MercadoLibre worth $73,458,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Amalgamated Bank increased its position in MercadoLibre by 22.2% during the 4th quarter. Amalgamated Bank now owns 55 shares of the company’s stock valued at $86,000 after buying an additional 10 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of MercadoLibre by 40.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock valued at $861,000 after acquiring an additional 149 shares in the last quarter. Brown Advisory Inc. increased its holdings in shares of MercadoLibre by 2.3% during the fourth quarter. Brown Advisory Inc. now owns 545 shares of the company’s stock valued at $856,000 after acquiring an additional 12 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of MercadoLibre in the 4th quarter valued at approximately $446,000. Finally, Trexquant Investment LP acquired a new stake in MercadoLibre in the 4th quarter worth approximately $3,088,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. BTIG Research upped their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Citigroup boosted their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald started coverage on MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,103.75 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The business’s 50 day moving average is $1,899.17 and its two-hundred day moving average is $1,691.54. The company has a market capitalization of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 EPS. Analysts expect that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

MercadoLibre Company 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.