MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,870 shares of the company’s stock after selling 130 shares during the period. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $3,837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after purchasing an additional 3,577 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in MercadoLibre in the first quarter valued at $73,000. Wealth Enhancement Advisory Services LLC grew its position in shares of MercadoLibre by 19.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock worth $3,753,000 after acquiring an additional 396 shares during the last quarter. Dohj LLC increased its holdings in shares of MercadoLibre by 4.0% in the 1st quarter. Dohj LLC now owns 338 shares of the company’s stock worth $511,000 after acquiring an additional 13 shares during the period. Finally, Register Financial Advisors LLC bought a new stake in MercadoLibre in the 1st quarter valued at about $68,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.8 %

NASDAQ:MELI opened at $2,055.93 on Friday. The stock has a fifty day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. The firm has a market capitalization of $104.23 billion, a price-to-earnings ratio of 91.99, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted 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 net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. The business’s quarterly revenue was up 41.5% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Susquehanna raised 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. BTIG Research lifted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research note on Wednesday, October 2nd. Barclays lifted their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.