MercadoLibre, Inc. $MELI Shares Acquired by Deepwater Asset Management LLC

Deepwater Asset Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,765 shares of the company's stock after buying an additional 2,164 shares during the period. MercadoLibre comprises approximately 4.6% of Deepwater Asset Management LLC's holdings, making the stock its 4th largest holding. Deepwater Asset Management LLC's holdings in MercadoLibre were worth $15,641,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MELI. Capital Research Global Investors grew its position in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. grew its position in MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company's stock worth $671,665,000 after acquiring an additional 296,543 shares during the last quarter. Norges Bank bought a new stake in MercadoLibre during the 4th quarter worth approximately $597,045,000. Baillie Gifford & Co. grew its position in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock worth $7,012,773,000 after acquiring an additional 164,120 shares during the last quarter. Finally, Capital International Investors grew its position in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after acquiring an additional 118,018 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,607.80 on Monday. The firm has a market capitalization of $81.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 0.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The business's fifty day moving average price is $1,720.81 and its two-hundred day moving average price is $1,886.65. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm's quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.74 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. Citigroup lowered MercadoLibre from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. BTIG Research restated a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Barclays decreased their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Wedbush decreased their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,255.33.

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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