DekaBank Deutsche Girozentrale Sells 2,054 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

DekaBank Deutsche Girozentrale trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,537 shares of the company’s stock after selling 2,054 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of MercadoLibre worth $116,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its position in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC grew its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 43.2% in the 1st 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 in the last quarter. Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Legal & General Group Plc lifted its position in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after purchasing an additional 11,265 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. BTIG Research increased their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Barclays lifted their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Stock Down 0.4 %

NASDAQ MELI opened at $2,047.35 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,162.73 and a 52 week high of $2,161.73. The firm has a market capitalization of $103.80 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61. The company has a fifty day moving average of $2,047.08 and a two-hundred day moving average of $1,783.71.

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