MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Creative Planning

Creative Planning cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,957 shares of the company’s stock after selling 70 shares during the period. Creative Planning’s holdings in MercadoLibre were worth $12,223,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in shares of MercadoLibre by 442.2% in 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 during the period. Price T Rowe Associates Inc. MD increased its stake in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC boosted its position in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Finally, Capital World Investors grew its position in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on MELI shares. Bank of America increased their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Morgan Stanley raised their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Citigroup upped their price target on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,283.00.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,100.58 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market cap of $106.49 billion, a PE ratio of 93.99, a P/E/G ratio of 1.25 and a beta of 1.61. The stock has a fifty day moving average price of $2,038.67 and a 200 day moving average price of $1,770.04. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 earnings per share. Sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 EPS for the current 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.