Jennison Associates LLC Trims Position in MercadoLibre, Inc. (NASDAQ:MELI)

Jennison Associates LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,538 shares of the company’s stock after selling 101,892 shares during the quarter. MercadoLibre accounts for about 2.5% of Jennison Associates LLC’s portfolio, making the stock its 9th largest position. Jennison Associates LLC’s holdings in MercadoLibre were worth $3,349,797,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. WCM Investment Management LLC grew its position in MercadoLibre by 74.8% during the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares during the period. Morgan Stanley raised its stake in MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. International Assets Investment Management LLC raised its stake in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in MercadoLibre by 108.1% in the third quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock valued at $248,475,000 after purchasing an additional 101,757 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its stake in MercadoLibre by 70.9% in the third quarter. Hardman Johnston Global Advisors LLC now owns 203,083 shares of the company’s stock valued at $257,485,000 after purchasing an additional 84,239 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 2.0 %

NASDAQ:MELI traded down $26.83 during trading hours on Monday, hitting $1,329.60. The company had a trading volume of 148,787 shares, compared to its average volume of 383,800. The company has a market capitalization of $67.41 billion, a PE ratio of 69.42, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The stock has a 50-day moving average price of $1,559.84 and a 200 day moving average price of $1,527.58. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.25 EPS. On average, equities research analysts predict that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Wedbush reiterated an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Susquehanna increased their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. UBS Group reduced their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,813.85.

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.