D.A. Davidson & CO. Has $4.31 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

D.A. Davidson & CO. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 2,622 shares of the company’s stock after selling 67 shares during the period. D.A. Davidson & CO.’s holdings in MercadoLibre were worth $4,309,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. O Dell Group LLC grew its holdings in shares of MercadoLibre by 2.1% in the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Wealthspire Advisors LLC grew its stake in MercadoLibre by 1.8% during the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after buying an additional 7 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of MercadoLibre by 1.2% during the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock worth $921,000 after buying an additional 7 shares in the last quarter. Hilltop National Bank boosted its holdings in shares of MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of MercadoLibre by 5.1% in the 2nd quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Citigroup upped their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,105.91.

MercadoLibre Price Performance

MELI opened at $1,990.17 on Wednesday. The company has a fifty day moving average price of $1,793.79 and a two-hundred day moving average price of $1,653.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a market capitalization of $100.90 billion, a PE ratio of 89.05, a P/E/G ratio of 1.36 and a beta of 1.60. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,064.76.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. As a group, analysts anticipate that MercadoLibre, Inc. will post 35.22 earnings per share for the current 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.