Atreides Management LP Sells 1,395 Shares of MercadoLibre, Inc. $MELI

Atreides Management LP lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,501 shares of the company’s stock after selling 1,395 shares during the quarter. Atreides Management LP’s holdings in MercadoLibre were worth $9,066,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in MercadoLibre by 105.7% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,370 shares of the company’s stock worth $43,077,000 after acquiring an additional 10,983 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in MercadoLibre by 59.4% during the 4th quarter. Boothbay Fund Management LLC now owns 322 shares of the company’s stock worth $649,000 after acquiring an additional 120 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in shares of MercadoLibre in the 4th quarter valued at about $2,417,000. Align Financial LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $20,286,000. Finally, Alta Park Capital LP boosted its stake in shares of MercadoLibre by 7.1% in the 4th quarter. Alta Park Capital LP now owns 7,714 shares of the company’s stock valued at $15,538,000 after purchasing an additional 511 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,631.82 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The firm’s 50 day moving average price is $1,711.90 and its two-hundred day moving average price is $1,864.64. The firm has a market cap of $82.73 billion, a P/E ratio of 43.07, a PEG ratio of 1.03 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 analyst estimates of $8.29 billion. During the same quarter last year, the business earned $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

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.