Insider Selling: MercadoLibre (NASDAQ:MELI) Director Sells $503,778.48 in Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this link.

MercadoLibre Price Performance

MELI stock opened at $2,015.89 on Friday. The firm has a 50 day moving average of $2,121.14 and a 200-day moving average of $2,314.90. The company has a market cap of $102.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 1.45 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22.

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

Institutional Trading of MercadoLibre

A number of hedge funds have recently bought and sold shares of MELI. Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth $29,000. Highline Wealth Partners LLC raised its holdings in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Twin Tree Management LP bought a new position in shares of MercadoLibre in the 1st quarter worth about $29,000. Finally, Stone House Investment Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MELI. Wedbush raised their price target on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Benchmark reduced their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. UBS Group dropped their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Finally, Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

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.