MercadoLibre, Inc. $MELI Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 72,902 shares of the company’s stock after selling 2,921 shares during the period. Fisher Asset Management LLC owned about 0.14% of MercadoLibre worth $146,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after acquiring an additional 164,120 shares during the period. Capital Research Global Investors grew its stake in MercadoLibre by 3.4% in the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after acquiring an additional 59,838 shares during the period. Capital World Investors grew its stake in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after acquiring an additional 22,659 shares during the period. Schroder Investment Management Group grew its stake in MercadoLibre by 9.8% in the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after acquiring an additional 50,893 shares during the period. Finally, WCM Investment Management LLC grew its stake in MercadoLibre by 0.4% in the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after acquiring an additional 1,833 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MELI shares. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research note on Wednesday, May 13th. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. BTIG Research lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,664.42 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The firm has a fifty day moving average of $1,721.23 and a 200-day moving average of $1,914.48. The stock has a market capitalization of $84.39 billion, a PE ratio of 43.93, a P/E/G ratio of 1.03 and a beta of 1.41. 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 (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the firm earned $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. On average, analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre 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.