Sumitomo Mitsui Trust Group Inc. Sells 8,090 Shares of MercadoLibre, Inc. $MELI

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,540 shares of the company’s stock after selling 8,090 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in MercadoLibre were worth $496,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter valued at about $29,000. Highline Wealth Partners LLC lifted its position in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after purchasing an additional 11 shares in the last quarter. Curio Wealth LLC boosted its holdings in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after purchasing an additional 14 shares during the last quarter. Stone House Investment Management LLC bought a new stake in MercadoLibre in the 2nd quarter worth about $39,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in MercadoLibre in the 3rd quarter worth about $35,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wedbush cut their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. BTIG Research reissued a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Thursday, December 4th. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,178.41 on Monday. The stock has a market cap of $110.45 billion, a PE ratio of 53.16, a PEG ratio of 1.08 and a beta of 1.42. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company’s fifty day moving average is $2,062.64 and its 200 day moving average is $2,251.07. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.MercadoLibre’s revenue was up 39.5% on a year-over-year basis. During the same period last year, the business earned $7.83 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity at MercadoLibre

In related news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 in the last 90 days. Company insiders own 0.25% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.