Smartleaf Asset Management LLC Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Smartleaf Asset Management LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 41.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41 shares of the company’s stock after selling 29 shares during the period. Smartleaf Asset Management LLC’s holdings in MercadoLibre were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Swedbank AB raised its holdings in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares in the last quarter. QRG Capital Management Inc. bought a new stake in MercadoLibre in the third quarter worth $293,000. Washington Trust Advisors Inc. grew its stake in shares of MercadoLibre by 1,100.0% in the third quarter. Washington Trust Advisors Inc. now owns 36 shares of the company’s stock worth $73,000 after acquiring an additional 33 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of MercadoLibre by 62.0% in the third quarter. Verdence Capital Advisors LLC now owns 575 shares of the company’s stock worth $1,180,000 after buying an additional 220 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of MercadoLibre by 11.1% in the third quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock worth $8,294,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,009.34 on Monday. 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 company has a market cap of $101.87 billion, a price-to-earnings ratio of 53.30, a PEG 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. The stock’s 50 day simple moving average is $1,942.41 and its two-hundred day simple moving average is $1,969.65.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MELI shares. Bank of America boosted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $2,402.81.

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.