Aviva PLC Decreases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Aviva PLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,968 shares of the company’s stock after selling 15,093 shares during the quarter. Aviva PLC owned 0.12% of MercadoLibre worth $100,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares in the last quarter. Nvwm LLC lifted its holdings in MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares in the last quarter. Perigon Wealth Management LLC grew its position in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after purchasing an additional 7 shares during the period. GPS Wealth Strategies Group LLC increased its stake in shares of MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after purchasing an additional 7 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of MercadoLibre by 2.3% during the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on MELI shares. Wedbush cut their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Susquehanna boosted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,841.29 on Friday. The business has a 50-day simple moving average of $2,036.90 and a 200-day simple moving average of $1,968.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a market cap of $93.35 billion, a PE ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.