MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,513 shares of the company’s stock after selling 1,141 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in MercadoLibre were worth $4,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MELI. Principal Financial Group Inc. grew its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB increased its position in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. Oppenheimer & Co. Inc. raised its stake in MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in MercadoLibre by 12.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock worth $172,613,000 after acquiring an additional 11,166 shares during the period. Finally, Ninety One North America Inc. bought a new position in shares of MercadoLibre in the fourth quarter worth $4,923,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MELI shares. Susquehanna upped their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Barclays upped their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Bank of America lifted their price target 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. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. 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 MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,409.69.

MercadoLibre Stock Up 3.3 %

NASDAQ:MELI opened at $1,996.95 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The firm has a market capitalization of $101.24 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average price is $2,036.16 and its 200 day moving average price is $1,958.91.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.94 billion. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.