William Blair Investment Management LLC Sells 74,408 Shares of MercadoLibre, Inc. $MELI

William Blair Investment Management LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 99.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 441 shares of the company’s stock after selling 74,408 shares during the period. William Blair Investment Management LLC’s holdings in MercadoLibre were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $30,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MELI shares. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Scotiabank lowered their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,922.73 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The business’s fifty day moving average is $1,793.05 and its 200 day moving average is $1,773.33.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.31 EPS. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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.