Jennison Associates LLC Trims Stock Holdings in MercadoLibre, Inc. $MELI

Jennison Associates LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,086,283 shares of the company’s stock after selling 148,957 shares during the period. MercadoLibre accounts for approximately 1.5% of Jennison Associates LLC’s portfolio, making the stock its 21st biggest holding. Jennison Associates LLC owned 2.14% of MercadoLibre worth $2,538,577,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $206,000. Empowered Funds LLC boosted its position in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the last quarter. Focus Partners Wealth grew its stake in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after acquiring an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $261,000. Finally, Sowell Financial Services LLC acquired a new position in MercadoLibre in the 2nd quarter valued at $206,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Susquehanna dropped their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Finally, Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,842.94.

Insider Activity

In related news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,137.29 on Friday. The company has a market cap of $108.36 billion, a price-to-earnings ratio of 52.15, a price-to-earnings-growth ratio of 1.07 and a beta of 1.42. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The stock’s 50-day moving average is $2,051.07 and its 200-day moving average is $2,224.91.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the firm posted $7.83 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.