MercadoLibre, Inc. $MELI Stock Position Trimmed by Axiom Investors LLC DE

Axiom Investors LLC DE cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 16.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,819 shares of the company’s stock after selling 14,113 shares during the quarter. MercadoLibre comprises 1.3% of Axiom Investors LLC DE’s holdings, making the stock its 26th biggest position. Axiom Investors LLC DE owned approximately 0.14% of MercadoLibre worth $136,208,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Formidable Asset Management LLC increased its holdings in shares of MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock valued at $272,000 after purchasing an additional 5 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock valued at $201,000 after purchasing an additional 5 shares during the period. Sonora Investment Management Group LLC increased its holdings in shares of MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after purchasing an additional 5 shares during the period. Beacon Capital Management LLC raised its position in shares of MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after buying an additional 5 shares in the last quarter. Finally, Forum Financial Management LP raised its position in shares of MercadoLibre by 3.1% during the 1st quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on MELI. Barclays dropped their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,700.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Citigroup cut their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,817.22.

MercadoLibre Trading Down 0.0%

NASDAQ:MELI opened at $2,417.49 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $122.57 billion, a price-to-earnings ratio of 59.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. The stock has a fifty day simple moving average of $2,402.07 and a 200 day simple moving average of $2,302.70.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.