MercadoLibre, Inc. $MELI Shares Sold by Fairtree Asset Management Pty Ltd

Key Points

• Fairtree Asset Management cut its MercadoLibre stake by 86% in the second quarter, selling 1,059 shares and retaining 172 shares valued at approximately $292,000.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and a $2,272 price target, despite several firms lowering their targets.
• MercadoLibre recently exceeded quarterly expectations, reporting $9.19 in earnings per share and $10.17 billion in revenue, up 49.8% year over year; its shares opened at $1,921.96, up 0.7%.

Fairtree Asset Management Pty Ltd reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 86.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172 shares of the company's stock after selling 1,059 shares during the quarter. Fairtree Asset Management Pty Ltd's holdings in MercadoLibre were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the 4th quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the 4th quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Morgan Stanley decreased their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a report on Monday, May 11th. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. Finally, BTIG Research reissued a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Stock Up 0.7%

Shares of MercadoLibre stock opened at $1,921.96 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a market cap of $97.44 billion, a P/E ratio of 52.27, a PEG ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The firm has a fifty day moving average of $1,786.39 and a two-hundred day moving average of $1,774.91.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the firm earned $10.31 earnings per share. The business's quarterly revenue was up 49.8% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Company 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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