MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 81.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,157 shares of the company’s stock after selling 56,744 shares during the period. Renaissance Technologies LLC’s holdings in MercadoLibre were worth $21,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also 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 acquiring an additional 6 shares during the period. Belpointe Asset Management LLC grew its holdings in shares of MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the period. Hilltop National Bank grew its holdings in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after buying an additional 7 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of MercadoLibre by 5.1% in the second quarter. Contravisory Investment Management Inc. now owns 143 shares of the company’s stock worth $235,000 after acquiring an additional 7 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of MercadoLibre by 0.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock worth $1,294,000 after acquiring an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays lifted their price objective on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Citigroup upped their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their price objective on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,103.75 on Friday. 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 company has a market cap of $106.65 billion, a P/E ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,157.64. The firm’s 50 day moving average is $1,899.17 and its two-hundred day moving average is $1,690.40.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 company 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%. MercadoLibre’s revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.16 earnings per share. Analysts expect that MercadoLibre, Inc. will post 35.22 EPS 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.