MercadoLibre, Inc. $MELI Shares Sold by DSM Capital Partners LLC

DSM Capital Partners LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,388 shares of the company’s stock after selling 41 shares during the period. MercadoLibre accounts for approximately 0.1% of DSM Capital Partners LLC’s holdings, making the stock its 29th biggest position. DSM Capital Partners LLC’s holdings in MercadoLibre were worth $6,241,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Key Financial Inc bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $25,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MELI. Citigroup dropped their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday. Daiwa Capital Markets began coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Scotiabank began coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price objective on the stock. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,815.29.

MercadoLibre Stock Performance

Shares of MELI opened at $2,133.67 on Friday. The firm has a 50-day moving average price of $2,363.50 and a 200 day moving average price of $2,344.22. The firm has a market capitalization of $108.18 billion, a PE ratio of 52.70, a P/E/G ratio of 1.52 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.48 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.