MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by US Bancorp DE

US Bancorp DE decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,518 shares of the company’s stock after selling 107 shares during the period. US Bancorp DE’s holdings in MercadoLibre were worth $27,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GQG Partners LLC boosted its position in MercadoLibre by 442.2% in the first 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 last quarter. International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC grew its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Citigroup raised their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research note on Wednesday, October 2nd. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Three investment 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, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,054.90 on Friday. The stock has a 50 day moving average price of $2,050.38 and a 200 day moving average price of $1,801.53. The stock has a market cap of $104.18 billion, a PE ratio of 74.26, a P/E/G ratio of 1.23 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a one year low of $1,310.31 and a one year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 EPS. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

MercadoLibre Company Profile

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.