2Xideas AG Sells 1,748 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

2Xideas AG cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,269 shares of the company’s stock after selling 1,748 shares during the period. 2Xideas AG’s holdings in MercadoLibre were worth $9,478,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MELI. First PREMIER Bank purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth approximately $28,000. Archer Investment Corp purchased a new position in MercadoLibre during the 4th quarter valued at $31,000. Larson Financial Group LLC bought a new position in MercadoLibre in the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC purchased a new stake in MercadoLibre in the fourth quarter worth $36,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI traded up $4.75 during trading on Tuesday, hitting $1,626.15. The company’s stock had a trading volume of 326,845 shares, compared to its average volume of 362,473. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $1,648.75 and its 200 day simple moving average is $1,619.63. The firm has a market capitalization of $82.45 billion, a price-to-earnings ratio of 72.76, a P/E/G ratio of 1.22 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) 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 analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The business’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.97 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 33.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent analyst reports. UBS Group lowered their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. 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 report on Tuesday, April 23rd. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, Barclays raised their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,922.08.

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.