ARK Investment Management LLC Has $55.45 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• ARK Investment Management LLC has reduced its stake in MercadoLibre, Inc. by 8.8% during the 1st quarter, holding approximately $55.45 million worth of shares after selling 2,746.
• MercadoLibre's latest quarter saw a revenue increase of 37.0% year-over-year, with reported earnings per share of $9.74, exceeding analysts' expectations.
• Equities analysts have set varying price targets for MercadoLibre, with UBS Group setting a target of $3,000.00 and several firms reaffirming positive ratings, indicating a generally optimistic outlook.

ARK Investment Management LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,425 shares of the company's stock after selling 2,746 shares during the quarter. ARK Investment Management LLC owned approximately 0.06% of MercadoLibre worth $55,453,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter valued at $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $26,000. Finally, Covestor Ltd acquired a new stake in MercadoLibre during the 4th quarter valued at $27,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 1.2%

Shares of NASDAQ MELI opened at $2,362.56 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22. The stock has a market capitalization of $119.78 billion, a P/E ratio of 58.11, a PEG ratio of 1.42 and a beta of 1.49. The stock's fifty day moving average is $2,475.90 and its 200 day moving average is $2,202.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter last year, the business earned $6.78 earnings per share. MercadoLibre's revenue was up 37.0% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, Barclays lowered their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,639.69.

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.

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