MercadoLibre, Inc. $MELI Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.8% during the first quarter, Holdings Channel reports. The institutional investor owned 318,708 shares of the company’s stock after selling 51,088 shares during the period. Jennison Associates LLC’s holdings in MercadoLibre were worth $551,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its holdings in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares during the last quarter. TIAA Trust National Association lifted its holdings in shares of MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its position in shares of MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas grew its position in shares of MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after purchasing an additional 6,200 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,813.91 on Friday. The company has a market cap of $91.97 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a 50-day simple moving average of $1,681.90 and a 200-day simple moving average of $1,822.69.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the firm earned $9.74 EPS. On average, equities analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. Benchmark dropped their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald cut their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Company Profile

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.