Profund Advisors LLC Sells 51 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Profund Advisors LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,657 shares of the company’s stock after selling 51 shares during the quarter. Profund Advisors LLC’s holdings in MercadoLibre were worth $6,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC increased its position in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $2,913,000. Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Cantor Fitzgerald initiated coverage on MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,207.31.

MercadoLibre Stock Down 0.3 %

NASDAQ:MELI opened at $2,103.75 on Friday. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,157.64. The firm has a market capitalization of $106.65 billion, a price-to-earnings ratio of 94.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $1,899.17 and its two-hundred day moving average price is $1,691.54.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.16 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

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.