MercadoLibre, Inc. $MELI Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,393 shares of the company’s stock after selling 1,740 shares during the period. Pictet Asset Management Holding SA’s holdings in MercadoLibre were worth $42,163,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MELI. Y.D. More Investments Ltd increased its stake in shares of MercadoLibre by 24.0% in the first quarter. Y.D. More Investments Ltd now owns 31 shares of the company’s stock worth $53,000 after purchasing an additional 6 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of MercadoLibre by 2.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 212 shares of the company’s stock valued at $367,000 after buying an additional 6 shares in the last quarter. Moody National Bank Trust Division lifted its stake in shares of MercadoLibre by 0.8% during the 2nd quarter. Moody National Bank Trust Division now owns 733 shares of the company’s stock valued at $1,244,000 after buying an additional 6 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in MercadoLibre by 0.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,227 shares of the company’s stock worth $2,083,000 after buying an additional 6 shares during the period. Finally, Matrix Trust Co boosted its holdings in MercadoLibre by 1.3% in the 3rd quarter. Matrix Trust Co now owns 458 shares of the company’s stock worth $792,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Cantor Fitzgerald cut their price target on MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. New Street Research assumed coverage on MercadoLibre in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price objective on the stock. BTIG Research dropped their price objective on MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. Susquehanna increased their target price on MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research report on Tuesday, October 6th. Finally, Scotiabank cut their target price on MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,180.00.

MercadoLibre Trading Down 2.8%

Shares of MELI stock opened at $1,490.24 on Wednesday. The company has a market cap of $75.56 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.42. The stock’s 50 day simple moving average is $1,790.41 and its two-hundred day simple moving average is $1,798.61. MercadoLibre, Inc. has a 1 year low of $1,469.01 and a 1 year high of $2,342.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.17 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing the consensus estimate of $9.27 by ($0.44). MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. The firm had revenue of $10.75 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the firm earned $8.32 earnings per share. The firm’s quarterly revenue was up 45.1% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 37.88 earnings per share for the current year.

Key Stories Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: MercadoLibre’s Q3 revenue rose 45% year over year to $10.75 billion, and management commentary points to customers shopping more often and placing more money with Mercado Pago. The company has also sustained a long run of strong growth. MercadoLibre Stock Looks Attractive Even as Brazil Fears Mount MercadoLibre Is “the Only Company Ever” to Grow 30% for 30 Straight Quarters
• Positive Sentiment: Expansion efforts may support future growth: fulfillment capacity increased ahead of peak season, while orders through Brazil’s affiliate marketing channel climbed 240% year over year. One article also argues that the share-price pullback has made the growth story more appealing to investors. MercadoLibre: 3 Key Takeaways for Long-Term Investors Down 24% This Year, Is MercadoLibre an Obvious Growth Stock?
• Neutral Sentiment: JPMorgan lowered its price target from $2,150 to $1,850 and kept a neutral rating, signaling more cautious expectations despite potential upside from the level cited in the report. MercadoLibre Stock Price Targets
• Neutral Sentiment: A short-interest item describes a large increase but reports total short interest of zero shares as of November 10, an apparent inconsistency that makes the data difficult to interpret.
• Negative Sentiment: Profitability is the key concern: shipping costs and expansion spending are squeezing margins even as revenue grows. Q3 EPS of $8.83 also missed the $9.27 consensus estimate, and reports say shares fell 11.9% after earnings. The company’s premium valuation may amplify investor caution. MercadoLibre Declines 11.9% Since Q3 Earnings MercadoLibre’s Growth Strategy Puts Profit Margins to the Test

About MercadoLibre

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.