Sonen Capital LLC Sells 49 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sonen Capital LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.5% in the 4th quarter, Holdings Channel reports. The firm owned 467 shares of the company’s stock after selling 49 shares during the quarter. MercadoLibre accounts for approximately 1.4% of Sonen Capital LLC’s portfolio, making the stock its 21st largest position. Sonen Capital LLC’s holdings in MercadoLibre were worth $734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of MercadoLibre by 10.2% during the 3rd 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. Jennison Associates LLC raised its holdings in shares of MercadoLibre by 1.3% in the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock valued at $2,831,721,000 after acquiring an additional 28,095 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of MercadoLibre by 6.1% during the 3rd quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock valued at $521,492,000 after acquiring an additional 23,699 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of MercadoLibre by 10.2% during the third quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock worth $462,999,000 after purchasing an additional 33,801 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,406.00 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $71.28 billion, a P/E ratio of 71.96, a P/E/G ratio of 0.94 and a beta of 1.44. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The firm has a 50-day moving average of $1,523.37 and a 200-day moving average of $1,530.57.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.25 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MELI shares. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a research note on Tuesday, April 23rd. Wedbush dropped their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Citigroup dropped their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, UBS Group decreased 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 note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre 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.