MercadoLibre, Inc. $MELI Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 42.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 941 shares of the company’s stock after selling 685 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in MercadoLibre were worth $1,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association boosted its position in shares of MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its stake in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of MercadoLibre in the 2nd quarter worth approximately $279,445,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,922.73 on Monday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a 50-day moving average of $1,793.05 and a two-hundred day moving average of $1,773.33. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the business earned $10.31 earnings per share. The firm’s revenue was up 49.8% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on MELI shares. JPMorgan Chase & Co. increased their target price 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. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Eleven investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

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.