MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Centurion Wealth Management LLC

Centurion Wealth Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 139 shares of the company’s stock after selling 26 shares during the quarter. Centurion Wealth Management LLC’s holdings in MercadoLibre were worth $236,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre in the 3rd quarter worth approximately $114,417,000. Principal Financial Group Inc. grew its holdings in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB increased its position in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MELI shares. Wedbush reduced their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Bank of America raised their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,021.37 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The stock’s 50 day moving average price is $1,966.98 and its 200 day moving average price is $1,969.13. The firm has a market capitalization of $102.48 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 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.