MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 33.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,880 shares of the company’s stock after selling 38,953 shares during the period. CIBC Private Wealth Group LLC’s holdings in MercadoLibre were worth $133,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Wealthfront Advisers LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $565,306,000. Norges Bank acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $383,051,000. Strategic Financial Concepts LLC lifted its position in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after buying an additional 181,849 shares in the last quarter. Wellington Management Group LLP boosted its stake in MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre in the 3rd quarter valued at $114,417,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,048.07 on Friday. The company has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a fifty day simple moving average of $2,028.39 and a two-hundred day simple moving average of $1,974.17.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MELI. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Bank of America lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,402.81.

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.