MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,479 shares of the company’s stock after selling 13 shares during the quarter. Avantax Advisory Services Inc.’s holdings in MercadoLibre were worth $2,236,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. WCM Investment Management LLC grew its holdings in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares during the period. Norges Bank purchased a new stake in MercadoLibre during the 4th quarter worth $554,386,000. International Assets Investment Management LLC increased its holdings in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in MercadoLibre by 1,432.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Finally, Capital World Investors lifted its stake in shares of MercadoLibre by 13.3% during the fourth quarter. Capital World Investors now owns 750,720 shares of the company’s stock worth $1,179,787,000 after purchasing an additional 88,359 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI traded down $41.02 during mid-day trading on Wednesday, hitting $1,679.41. The company’s stock had a trading volume of 254,134 shares, compared to its average volume of 370,397. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $1,825.00. The stock’s 50-day moving average is $1,663.63 and its two-hundred day moving average is $1,613.76. The firm has a market capitalization of $85.14 billion, a PE ratio of 74.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.97 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, May 13th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. UBS Group cut their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,922.08.

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.