E Fund Management Co. Ltd. Has $1.03 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

E Fund Management Co. Ltd. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 603 shares of the company’s stock after selling 74 shares during the quarter. E Fund Management Co. Ltd.’s holdings in MercadoLibre were worth $1,025,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Human Investing LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 220.0% during 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. boosted its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. lifted its stake in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America lifted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Trading Down 1.8 %

Shares of MELI stock opened at $2,009.34 on Friday. The firm has a market capitalization of $101.87 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $1,942.41 and its 200 day simple moving average is $1,970.16. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.