Charles Schwab Investment Management Inc. Has $2.78 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Charles Schwab Investment Management Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 49.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,632 shares of the company’s stock after selling 1,583 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MercadoLibre were worth $2,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its position in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $32,000. Finally, Mather Group LLC. raised its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush decreased their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Bank of America lifted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Up 1.0 %

NASDAQ:MELI opened at $2,095.85 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm’s 50-day moving average price is $2,024.14 and its 200-day moving average price is $1,974.34. The company has a market capitalization of $106.25 billion, a PE ratio of 55.59, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The business 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%. On average, equities analysts predict 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.