MercadoLibre, Inc. $MELI Shares Sold by Prudential PLC

Prudential PLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 13.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,308 shares of the company’s stock after selling 1,263 shares during the period. Prudential PLC’s holdings in MercadoLibre were worth $16,734,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after acquiring an additional 296,543 shares in the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter valued at $597,045,000. Baillie Gifford & Co. lifted its position in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of MercadoLibre by 28.4% in the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after acquiring an additional 109,228 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of MercadoLibre by 29.0% in the third quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock valued at $976,846,000 after acquiring an additional 93,854 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MELI. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday. Scotiabank reduced their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley reduced their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Daiwa Securities Group downgraded 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,634.78 on Friday. The business’s 50-day moving average price is $1,721.45 and its 200 day moving average price is $1,889.82. The company has a market capitalization of $82.88 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.74 earnings per share. On average, research analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.