ARK Investment Management LLC Has $66.09 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• ARK Investment Management LLC decreased its stake in MercadoLibre, Inc. by 11%, holding 25,286 shares valued at approximately $66.09 million as of its latest SEC filing.
• MercadoLibre last reported earnings showing a miss of $1.70 per share against consensus estimates, despite a revenue increase of 33.8% compared to the same quarter last year.
• There have been significant adjustments in analyst price targets for MercadoLibre, with some leading analysts giving the stock a consensus price target of $2,799.12, and ratings ranging from "Strong Buy" to "Hold."

ARK Investment Management LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,286 shares of the company's stock after selling 3,139 shares during the quarter. ARK Investment Management LLC's holdings in MercadoLibre were worth $66,088,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ninety One North America Inc. raised its stake in MercadoLibre by 21.5% in the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company's stock valued at $15,927,000 after acquiring an additional 1,080 shares during the period. Banco Santander S.A. raised its stake in MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after acquiring an additional 1,893 shares during the period. Stratos Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at $203,000. Costello Asset Management INC raised its stake in MercadoLibre by 434.3% in the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company's stock valued at $1,509,000 after acquiring an additional 469 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its stake in MercadoLibre by 8.5% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company's stock valued at $5,899,000 after acquiring an additional 177 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,142.05 on Wednesday. The stock's 50-day simple moving average is $2,328.33 and its 200 day simple moving average is $2,352.79. The firm has a market capitalization of $108.60 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business 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 last year, the business earned $10.48 earnings per share. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lowered their price objective on MercadoLibre from $3,000.00 to $2,800.00 and set an "overweight" rating on the stock in a research report on Tuesday. Daiwa Capital Markets assumed coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of MercadoLibre in a research report on Wednesday, October 8th. One 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. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,799.12.

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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