Net Worth Advisory Group Sells 6 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Net Worth Advisory Group lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159 shares of the company’s stock after selling 6 shares during the quarter. Net Worth Advisory Group’s holdings in MercadoLibre were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingsview Wealth Management LLC grew its stake in shares of MercadoLibre by 7.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 459 shares of the company’s stock worth $781,000 after acquiring an additional 33 shares during the last quarter. Empowered Funds LLC grew its stake in shares of MercadoLibre by 2.0% in the fourth quarter. Empowered Funds LLC now owns 711 shares of the company’s stock worth $1,209,000 after acquiring an additional 14 shares during the last quarter. Savant Capital LLC grew its stake in shares of MercadoLibre by 2.3% in the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after acquiring an additional 7 shares during the last quarter. Focus Financial Network Inc. grew its stake in shares of MercadoLibre by 2.9% in the fourth quarter. Focus Financial Network Inc. now owns 280 shares of the company’s stock worth $476,000 after acquiring an additional 8 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $37,000. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Barclays upped their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. The Goldman Sachs Group increased their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,632.50.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,368.82 on Friday. The stock has a market cap of $120.09 billion, a price-to-earnings ratio of 62.83, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50 day moving average price of $2,330.03 and a 200-day moving average price of $2,072.57. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,635.88.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter in the previous year, the business earned $6.78 EPS. The company’s quarterly revenue was up 37.0% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.