MercadoLibre, Inc. $MELI Shares Sold by Perpetual Ltd

Perpetual Ltd lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 15.3% during the third quarter, Holdings Channel.com reports. The firm owned 87,186 shares of the company’s stock after selling 15,804 shares during the period. MercadoLibre makes up 2.5% of Perpetual Ltd’s holdings, making the stock its 9th biggest holding. Perpetual Ltd’s holdings in MercadoLibre were worth $203,748,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position in MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. Brooklyn Investment Group boosted its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares during the period. Twin Tree Management LP purchased a new position in MercadoLibre during the first quarter worth about $29,000. Finally, Curio Wealth LLC increased its position in shares of MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MELI. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Finally, UBS Group cut their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,997.61 on Friday. The firm has a 50 day moving average of $2,098.11 and a two-hundred day moving average of $2,295.54. The stock has a market capitalization of $101.28 billion, a PE ratio of 48.75, a P/E/G ratio of 1.46 and a beta of 1.42. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm’s revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.83 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,136 shares of company stock worth $2,308,788. Company insiders own 0.25% 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.