MercadoLibre, Inc. $MELI is Zevenbergen Capital Investments LLC's 5th Largest Position

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in MercadoLibre, Inc. by 8.0%, now holding 111,405 shares, which comprise 5.7% of its portfolio and make it the 5th largest position for the firm.
• Recent analyst reports have generally positive outlooks for MercadoLibre, with price targets ranging from $2,700 to $3,000 and a consensus rating of "Moderate Buy."
• In its latest earnings report, MercadoLibre reported $6.79 billion in revenue, a year-over-year increase of 33.8%, although it missed earnings estimates with an EPS of $10.31.

Zevenbergen Capital Investments LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,405 shares of the company's stock after selling 9,749 shares during the quarter. MercadoLibre comprises about 5.7% of Zevenbergen Capital Investments LLC's holdings, making the stock its 5th largest position. Zevenbergen Capital Investments LLC owned 0.22% of MercadoLibre worth $291,171,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MELI. Bank Pictet & Cie Europe AG purchased a new position in shares of MercadoLibre in the fourth quarter valued at $561,000. Bison Wealth LLC bought a new stake in MercadoLibre during the fourth quarter valued at $206,000. Focus Partners Wealth boosted its stake in MercadoLibre by 25.1% during the fourth quarter. Focus Partners Wealth now owns 424 shares of the company's stock valued at $721,000 after buying an additional 85 shares during the period. Nuveen Asset Management LLC boosted its stake in MercadoLibre by 5.7% during the fourth quarter. Nuveen Asset Management LLC now owns 64,081 shares of the company's stock valued at $108,966,000 after buying an additional 3,449 shares during the period. Finally, NorthRock Partners LLC bought a new stake in MercadoLibre during the fourth quarter valued at $372,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MELI. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Trading Up 0.0%

Shares of MELI stock opened at $2,339.36 on Friday. 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 business has a 50-day moving average price of $2,384.98 and a two-hundred day moving average price of $2,306.83. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market cap of $118.61 billion, a P/E ratio of 57.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

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