abrdn plc Sells 8,593 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

abrdn plc cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,518 shares of the company’s stock after selling 8,593 shares during the quarter. abrdn plc owned about 0.29% of MercadoLibre worth $228,687,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after buying an additional 26,679 shares in the last quarter. Townsquare Capital LLC grew its stake in MercadoLibre by 0.9% during the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after buying an additional 14 shares during the last quarter. California Public Employees Retirement System raised its stake in MercadoLibre by 1.5% in the third quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after buying an additional 1,277 shares during the last quarter. Vanguard Group Inc. boosted its holdings in MercadoLibre by 2.3% in the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after acquiring an additional 4,065 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Susquehanna boosted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. UBS Group cut their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays reduced their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Citigroup dropped their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,813.85.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded down $13.82 during midday trading on Friday, reaching $1,356.43. 359,380 shares of the company’s stock traded hands, compared to its average volume of 305,721. The company has a market cap of $68.77 billion, a P/E ratio of 69.42, a PEG ratio of 0.88 and a beta of 1.44. The company has a fifty day simple moving average of $1,559.84 and a two-hundred day simple moving average of $1,523.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the business earned $3.25 earnings per share. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal 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.