DSM Capital Partners LLC Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• DSM Capital Partners LLC has reduced its stake in MercadoLibre by 5.7%, selling 148 shares during the first quarter, leaving them with a total of 2,429 shares valued at approximately $4.74 million.
• MercadoLibre reported $10.31 earnings per share (EPS) for the last quarter, missing the consensus estimate by $1.70, although revenue increased by 33.8% year-over-year to $6.79 billion.
• As of now, institutional investors hold about 87.62% of MercadoLibre’s stock, indicating significant institutional confidence in the company.

DSM Capital Partners LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,429 shares of the company's stock after selling 148 shares during the period. DSM Capital Partners LLC's holdings in MercadoLibre were worth $4,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Meiji Yasuda Life Insurance Co increased its position in MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after acquiring an additional 5 shares during the period. Formidable Asset Management LLC increased its position in MercadoLibre by 3.2% in the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after acquiring an additional 5 shares during the period. Revolve Wealth Partners LLC increased its position in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after acquiring an additional 5 shares during the period. Sonora Investment Management Group LLC increased its position in MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares during the period. Finally, Beacon Capital Management LLC increased its position in MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MELI shares. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Barclays dropped their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Susquehanna reiterated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre Price Performance

MELI stock traded up $72.50 on Friday, reaching $2,392.30. The company had a trading volume of 411,196 shares, compared to its average volume of 358,763. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company's fifty day moving average is $2,414.57 and its 200 day moving average is $2,261.37. The company has a market cap of $121.29 billion, a P/E ratio of 59.08, a PEG ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the company posted $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company Profile

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.