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

Jennison Associates LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 318,708 shares of the company’s stock after selling 51,088 shares during the quarter. Jennison Associates LLC owned about 0.63% of MercadoLibre worth $551,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new stake in MercadoLibre in the 4th quarter valued at $206,000. Empowered Funds LLC grew its position in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the last quarter. Focus Partners Wealth increased its stake in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre in the second quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Trading Down 2.3%

NASDAQ MELI opened at $1,813.91 on Friday. The stock has a market capitalization of $91.97 billion, a P/E ratio of 47.87, a P/E/G ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a 50-day moving average price of $1,681.90 and a 200 day moving average price of $1,822.69. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the firm posted $9.74 EPS. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MELI shares. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,258.67.

About MercadoLibre

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.