MercadoLibre, Inc. $MELI Holdings Lessened by In Depth Partners LLC

Key Points

• In Depth Partners LLC reduced its stake in MercadoLibre by 6.6%, now holding 5,513 shares worth approximately $10.76 million, making it the firm's fifth largest position.
• Analysts have set a price target range for MercadoLibre with UBS Group and Goldman Sachs both targeting $3,000.00, while Citigroup lowered its target to $2,850.00.
• MercadoLibre reported a 33.8% increase in revenue year-over-year, although its earnings per share of $10.31 missed the analysts' consensus estimate by $1.70.

In Depth Partners LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,513 shares of the company's stock after selling 388 shares during the period. MercadoLibre makes up about 12.3% of In Depth Partners LLC's investment portfolio, making the stock its 5th largest position. In Depth Partners LLC's holdings in MercadoLibre were worth $10,755,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in shares of MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after purchasing an additional 18,731 shares during the period. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the period. GQG Partners LLC raised its stake in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after purchasing an additional 87,912 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MercadoLibre by 14.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 454,150 shares of the company's stock valued at $772,255,000 after purchasing an additional 57,806 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of MercadoLibre by 18.7% during the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company's stock valued at $878,757,000 after purchasing an additional 70,834 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research report on Monday, June 2nd. Benchmark reissued a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research report on Monday, August 18th. One research 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, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,430.62 on Friday. The company has a market cap of $123.23 billion, a PE ratio of 60.03, a P/E/G ratio of 1.58 and a beta of 1.46. The company has a fifty day moving average price of $2,411.33 and a two-hundred day moving average price of $2,275.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

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

MercadoLibre 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.

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