Banque Pictet & Cie SA Sells 112 Shares of MercadoLibre, Inc. $MELI

Key Points

• Banque Pictet & Cie SA reduced its stake in MercadoLibre, Inc. by 1.6%, selling 112 shares and holding 6,795 shares valued at approximately $17.76 million.
• Several large investors increased their positions in MercadoLibre during the first quarter, with notable increases from Invesco Ltd. (22.4%) and UBS AM (21.2%).
• MercadoLibre reported a 33.8% increase in revenue year-over-year, but its EPS of $10.31 missed the consensus estimate by $1.70.

Banque Pictet & Cie SA lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,795 shares of the company's stock after selling 112 shares during the quarter. Banque Pictet & Cie SA's holdings in MercadoLibre were worth $17,760,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MELI. Jennison Associates LLC increased its position in shares of MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after buying an additional 18,731 shares in the last quarter. Invesco Ltd. grew its stake in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Generation Investment Management LLP increased its holdings in shares of MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after acquiring an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC raised its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after purchasing an additional 87,912 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,492.25 on Friday. The stock has a market capitalization of $126.36 billion, a price-to-earnings ratio of 61.55, a PEG ratio of 1.63 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm has a fifty day simple moving average of $2,390.74 and a 200 day simple moving average of $2,329.30. 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 (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the firm earned $10.48 earnings per share. The company's quarterly revenue was up 33.8% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Benchmark reiterated a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,828.33.

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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