Summit Partners Public Asset Management LLC Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Summit Partners Public Asset Management LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 84.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,850 shares of the company’s stock after selling 9,713 shares during the period. Summit Partners Public Asset Management LLC’s holdings in MercadoLibre were worth $3,146,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Human Investing LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. grew its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre in the 4th quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new position in MercadoLibre in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.1%

NASDAQ:MELI opened at $2,584.92 on Friday. The company has a fifty day moving average of $2,135.04 and a 200 day moving average of $1,999.88. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,610.30. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $131.05 billion, a P/E ratio of 68.57, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business earned $6.78 EPS. The company’s revenue for the quarter was up 37.0% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. Finally, Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,521.33.

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.