Sands Capital Management LLC Sells 3,687 Shares of MercadoLibre, Inc. $MELI

Sands Capital Management LLC lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 509,845 shares of the company’s stock after selling 3,687 shares during the period. MercadoLibre comprises 3.3% of Sands Capital Management LLC’s portfolio, making the stock its 7th largest position. Sands Capital Management LLC’s holdings in MercadoLibre were worth $1,191,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. DE Burlo Group Inc. raised its position in shares of MercadoLibre by 86.9% in the 3rd quarter. DE Burlo Group Inc. now owns 9,160 shares of the company’s stock valued at $21,406,000 after purchasing an additional 4,260 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of MercadoLibre by 58.1% during the 3rd quarter. Mackenzie Financial Corp now owns 2,903 shares of the company’s stock valued at $6,784,000 after buying an additional 1,067 shares during the last quarter. Franklin Resources Inc. grew its position in shares of MercadoLibre by 29.0% during the third quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after buying an additional 93,854 shares in the last quarter. Silvant Capital Management LLC grew its position in shares of MercadoLibre by 2.5% during the third quarter. Silvant Capital Management LLC now owns 10,799 shares of the company’s stock worth $25,237,000 after buying an additional 259 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of MercadoLibre in the third quarter worth $1,729,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,742.09 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $2,013.94 and its two-hundred day moving average price is $2,130.27. MercadoLibre, Inc. has a 52-week low of $1,654.24 and a 52-week high of $2,645.22. The stock has a market capitalization of $88.32 billion, a P/E ratio of 44.22, a P/E/G ratio of 0.89 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same period last year, the company posted $12.61 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Barclays lowered their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,762.00.

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.