Capital World Investors Sells 33,456 Shares of MercadoLibre, Inc. $MELI

Capital World Investors decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,706,673 shares of the company’s stock after selling 33,456 shares during the quarter. Capital World Investors owned 3.37% of MercadoLibre worth $3,437,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MELI. Capital Research Global Investors increased its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after acquiring an additional 296,543 shares during the last quarter. Norges Bank bought a new stake in MercadoLibre in the 4th quarter worth approximately $597,045,000. Baillie Gifford & Co. increased 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 last quarter. Finally, Capital International Investors increased its position in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price 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. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MELI. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Benchmark cut their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

MELI opened at $1,607.80 on Friday. The business has a fifty day moving average of $1,720.81 and a 200 day moving average of $1,887.84. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $81.52 billion, a P/E ratio of 42.43, a PEG ratio of 0.99 and a beta of 1.36.

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

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.