Zevenbergen Capital Investments LLC Sells 12,247 Shares of MercadoLibre, Inc. $MELI

Zevenbergen Capital Investments LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 55,119 shares of the company’s stock after selling 12,247 shares during the quarter. MercadoLibre makes up approximately 2.2% of Zevenbergen Capital Investments LLC’s holdings, making the stock its 15th largest holding. Zevenbergen Capital Investments LLC’s holdings in MercadoLibre were worth $95,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. grew its position in MercadoLibre by 5.2% during the 1st quarter. Total Clarity Wealth Management Inc. now owns 122 shares of the company’s stock worth $211,000 after purchasing an additional 6 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of MercadoLibre by 24.0% in the 1st quarter. Y.D. More Investments Ltd now owns 31 shares of the company’s stock valued at $53,000 after buying an additional 6 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of MercadoLibre by 2.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company’s stock worth $367,000 after buying an additional 6 shares during the last quarter. Moody National Bank Trust Division grew its holdings in MercadoLibre by 0.8% during the second quarter. Moody National Bank Trust Division now owns 733 shares of the company’s stock worth $1,244,000 after acquiring an additional 6 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in MercadoLibre by 0.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company’s stock valued at $2,083,000 after acquiring an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded down $16.12 during trading hours on Thursday, hitting $1,856.66. 273,824 shares of the stock were exchanged, compared to its average volume of 541,762. The firm’s fifty day moving average price is $1,864.15 and its 200 day moving average price is $1,774.90. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00. The company has a market cap of $94.13 billion, a P/E ratio of 50.49, a P/E/G ratio of 1.30 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company posted $10.31 earnings per share. The business’s revenue was up 49.8% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 38.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Susquehanna upped their price objective on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research report on Tuesday. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, New Street Research initiated coverage on MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.