MercadoLibre, Inc. $MELI is William Blair Investment Management LLC's 9th Largest Position

Key Points

• William Blair Investment Management LLC has reduced its holdings in MercadoLibre, Inc. by 6.6% in Q2, now owning approximately 238,599 shares, making it the 9th largest position in their portfolio.
• MercadoLibre's recent earnings report indicated an EPS of $10.31, which fell short of analysts' expectations of $12.01, despite revenue exceeding estimates at $6.79 billion.
• Analysts have a consensus rating of “Moderate Buy” for MercadoLibre, with price targets ranging from $2,600 to $3,000 across various firms.

William Blair Investment Management LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,599 shares of the company's stock after selling 16,968 shares during the period. MercadoLibre accounts for approximately 1.7% of William Blair Investment Management LLC's investment portfolio, making the stock its 9th biggest position. William Blair Investment Management LLC owned about 0.47% of MercadoLibre worth $623,610,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MELI. Key Financial Inc purchased a new stake in MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the 1st quarter valued at about $25,000. Close Asset Management Ltd grew its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Brooklyn Investment Group grew its stake in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in MercadoLibre during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. Barclays dropped their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Susquehanna dropped their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a "positive" rating for the company in a research note on Monday, October 13th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,810.88.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,024.98 on Friday. The firm has a market cap of $102.66 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $2,336.31 and its two-hundred day moving average is $2,346.74.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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). The business had revenue of $6.79 billion for 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%.MercadoLibre's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.48 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.

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