MercadoLibre, Inc. $MELI Shares Sold by Atreides Management LP

Atreides Management LP trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,501 shares of the company’s stock after selling 1,395 shares during the quarter. Atreides Management LP’s holdings in MercadoLibre were worth $9,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $29,000. Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $30,000. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $32,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,631.82 on Thursday. The firm has a fifty day simple moving average of $1,711.90 and a 200-day simple moving average of $1,864.64. 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 1-year low of $1,495.00 and a 1-year high of $2,645.22. The stock has a market capitalization of $82.73 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 1.03 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share 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 analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction dated 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 purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre 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.