Pictet Asset Management Holding SA Sells 6,210 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Pictet Asset Management Holding SA lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 146,808 shares of the company’s stock after selling 6,210 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MercadoLibre were worth $249,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. 1620 Investment Advisors Inc. lifted its holdings in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after buying an additional 5 shares during the period. Nvwm LLC lifted its stake in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the last quarter. Perigon Wealth Management LLC boosted its position in MercadoLibre by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after purchasing an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in MercadoLibre by 17.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after purchasing an additional 7 shares during the last quarter. Finally, Savant Capital LLC grew its stake in MercadoLibre by 2.3% in the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock valued at $524,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Trading Up 1.0 %

Shares of MercadoLibre stock opened at $2,095.85 on Friday. The stock has a market cap of $106.25 billion, a PE ratio of 55.59, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The firm has a fifty day moving average price of $2,024.14 and a 200 day moving average price of $1,974.34. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 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.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre 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.