MercadoLibre, Inc. $MELI Shares Sold by Sarasin & Partners LLP

Sarasin & Partners LLP cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 72,006 shares of the company’s stock after selling 1,028 shares during the quarter. MercadoLibre comprises 1.5% of Sarasin & Partners LLP’s holdings, making the stock its 27th biggest position. Sarasin & Partners LLP’s holdings in MercadoLibre were worth $145,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth $29,000. Holos Integrated Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $35,000. Caitong International Asset Management Co. Ltd purchased a new position in MercadoLibre in the 3rd quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. increased its stake in MercadoLibre by 100.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on MELI shares. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. BTIG Research dropped their target price on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating on the stock in a research report on Friday. Barclays cut their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,708.67.

MercadoLibre Stock Down 1.9%

Shares of MercadoLibre stock opened at $1,635.76 on Friday. MercadoLibre, Inc. has a 1 year low of $1,631.18 and a 1 year high of $2,645.22. The company has a market cap of $82.93 billion, a P/E ratio of 41.52, a P/E/G ratio of 0.80 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $1,948.16 and a 200 day moving average price of $2,091.22.

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

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.