Formuepleje A S Sells 1,200 Shares of MercadoLibre, Inc. $MELI

Key Points

• Formuepleje A/S cut its MercadoLibre stake by 48.5% in the second quarter, selling 1,200 shares and retaining 1,276 shares valued at approximately $2.17 million.
• Institutional ownership remains high at 87.62%, with several major investors increasing their positions and BlackRock initiating a stake.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a $2,272 price target. MercadoLibre also exceeded quarterly earnings and revenue expectations, reporting $9.19 EPS and $10.17 billion in revenue.

Formuepleje A S decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,276 shares of the company's stock after selling 1,200 shares during the quarter. Formuepleje A S's holdings in MercadoLibre were worth $2,166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MELI. California State Teachers Retirement System boosted its stake in MercadoLibre by 176,119.7% during the second quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock worth $203,454,074,000 after acquiring an additional 119,794,873 shares in the last quarter. Capital Research Global Investors increased its stake in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital International Investors raised its holdings in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the period. Finally, BlackRock Inc. bought a new position in shares of MercadoLibre during the 2nd quarter worth about $2,246,015,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MELI. BTIG Research restated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday. Morgan Stanley dropped their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Citigroup boosted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,978.36 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a 50-day moving average of $1,859.43 and a 200-day moving average of $1,769.45. The company has a market cap of $100.30 billion, a PE ratio of 53.80, a PEG ratio of 1.36 and a beta of 1.31. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the business posted $10.31 EPS. The firm's revenue was up 49.8% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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.

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