J. Safra Sarasin Holding AG Sells 394 Shares of MercadoLibre, Inc. $MELI

J. Safra Sarasin Holding AG decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,409 shares of the company’s stock after selling 394 shares during the period. J. Safra Sarasin Holding AG’s holdings in MercadoLibre were worth $21,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $206,000. Rhumbline Advisers boosted its holdings in shares of MercadoLibre by 4.4% in the 1st quarter. Rhumbline Advisers now owns 10,365 shares of the company’s stock valued at $20,221,000 after buying an additional 437 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $72,000. Merit Financial Group LLC grew its stake in shares of MercadoLibre by 7.7% in the first quarter. Merit Financial Group LLC now owns 757 shares of the company’s stock valued at $1,477,000 after buying an additional 54 shares in the last quarter. Finally, Portside Wealth Group LLC increased its holdings in MercadoLibre by 22.3% during the first quarter. Portside Wealth Group LLC now owns 274 shares of the company’s stock worth $535,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark restated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays cut their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,828.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,246.60 on Friday. The firm has a market cap of $113.90 billion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. The business’s 50 day moving average is $2,386.09 and its 200-day moving average is $2,340.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.48 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.