Charles Schwab Investment Management Inc. Sells 1,583 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Charles Schwab Investment Management Inc. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 49.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,632 shares of the company’s stock after selling 1,583 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MercadoLibre were worth $2,775,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Human Investing LLC bought a new stake in MercadoLibre during the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. lifted its holdings in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Performance

MELI opened at $2,095.85 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The stock has a market cap of $106.25 billion, a P/E ratio of 55.59, a P/E/G ratio of 1.12 and a beta of 1.64. The stock’s 50 day simple moving average is $2,024.14 and its 200 day simple moving average is $1,974.34. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last announced its 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 company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.