Corient Private Wealth LLC Sells 378 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Corient Private Wealth LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,348 shares of the company’s stock after selling 378 shares during the period. Corient Private Wealth LLC’s holdings in MercadoLibre were worth $2,292,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. State Street Corp grew its stake in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP increased its holdings in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $565,306,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in MercadoLibre by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock valued at $400,619,000 after purchasing an additional 3,710 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Bank of America lifted their price target 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. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, Citigroup reduced their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,095.27 on Monday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. 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 has a market capitalization of $106.22 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The company’s fifty day moving average price is $1,997.59 and its 200-day moving average price is $1,970.66.

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