J. Safra Sarasin Holding AG Has $17.17 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in MercadoLibre, Inc. by 18.6%, holding 8,803 shares worth approximately $17.17 million after selling 2,013 shares in the first quarter.
• MercadoLibre reported earnings per share of $9.74 for the recent quarter, exceeding estimates by $1.92, along with a significant 37% increase in quarterly revenue year-over-year.
• Wall Street analysts have mixed ratings for MercadoLibre, with a consensus average target price of $2,707.50, reflecting 13 buy ratings against one sell rating.

J. Safra Sarasin Holding AG lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,803 shares of the company's stock after selling 2,013 shares during the quarter. J. Safra Sarasin Holding AG's holdings in MercadoLibre were worth $17,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc bought a new stake in shares of MercadoLibre in the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $25,000. Close Asset Management Ltd raised its position in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Finally, Covestor Ltd acquired a new stake in shares of MercadoLibre during the fourth quarter worth $27,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $19.91 during mid-day trading on Monday, hitting $2,395.83. 557,159 shares of the stock were exchanged, compared to its average volume of 275,352. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market capitalization of $121.47 billion, a price-to-earnings ratio of 58.92, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The firm's 50-day simple moving average is $2,455.84 and its 200 day simple moving average is $2,229.19. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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). MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. During the same period in the prior year, the firm earned $10.48 EPS. The firm's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 target price (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,707.50.

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.