Jennison Associates LLC Sells 716,487 Shares of MercadoLibre, Inc. $MELI

Key Points

• Jennison Associates LLC cut its stake in MercadoLibre by 66.0% in Q4, selling 716,487 shares and leaving it with 369,796 shares worth about $744.9 million (≈0.73% of the company).
• MercadoLibre shares recently traded near $1,782.74 with a market cap of about $90.38 billion, a P/E of 45.28, and a 52-week range of $1,593.21 to $2,645.22.
• Analysts maintain a consensus of "Moderate Buy" (1 Strong Buy, 15 Buy, 2 Hold, 1 Sell) with a consensus price target of $2,685.33, though several firms have trimmed price targets and ratings in recent reports.

Jennison Associates LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 66.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,796 shares of the company's stock after selling 716,487 shares during the period. Jennison Associates LLC owned about 0.73% of MercadoLibre worth $744,865,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth $29,000. Holos Integrated Wealth LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth $32,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of MercadoLibre during the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre during the 3rd quarter worth $35,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company's stock worth $37,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 0.9%

Shares of MELI opened at $1,782.74 on Thursday. The business has a 50-day moving average of $1,764.98 and a 200 day moving average of $1,975.45. MercadoLibre, Inc. has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22. The firm has a market cap of $90.38 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. As a group, research analysts forecast that MercadoLibre, Inc. will post 50.05 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MELI shares. Wedbush lowered their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group raised MercadoLibre from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Itau BBA Securities reissued an "outperform" rating on shares of MercadoLibre in a report on Wednesday, February 25th. Weiss Ratings lowered MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. lowered MercadoLibre from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,685.33.

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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