Ithaka Group LLC Sells 279 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ithaka Group LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,877 shares of the company’s stock after selling 279 shares during the quarter. MercadoLibre accounts for 2.2% of Ithaka Group LLC’s holdings, making the stock its 17th biggest holding. Ithaka Group LLC’s holdings in MercadoLibre were worth $11,694,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC raised its stake in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC raised its position in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. State Street Corp boosted its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares during the period. Wellington Management Group LLP grew its position 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 in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in MercadoLibre during the 4th quarter worth $565,306,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.7 %

Shares of MELI opened at $2,004.83 on Thursday. The stock’s 50-day moving average price is $1,958.74 and its two-hundred day moving average price is $1,969.52. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a market capitalization of $101.64 billion, a PE ratio of 53.18, a PEG ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for 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%. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James raised 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. The Goldman Sachs Group raised 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. Susquehanna increased their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $2,402.81.

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.