MercadoLibre, Inc. $MELI Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in MercadoLibre by 17.2% during the first quarter, selling 1,406 shares, leaving it with 6,760 shares valued at approximately $13.19 million.
• Various institutional investors increased their positions in MercadoLibre in the same period, with Assenagon Asset Management boosting its stake by 170.9% to own 274,960 shares worth around $536.41 million.
• MercadoLibre reported revenues of $6.79 billion for the last quarter, significantly exceeding analyst expectations, though it missed earnings per share estimates with a reported EPS of $10.31.

Federation des caisses Desjardins du Quebec decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,760 shares of the company's stock after selling 1,406 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in MercadoLibre were worth $13,193,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Key Financial Inc purchased a new stake in shares of MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre in the 4th quarter worth about $26,000. Close Asset Management Ltd raised its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MELI. UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Barclays cut their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Trading Down 0.0%

Shares of NASDAQ:MELI traded down $0.31 during midday trading on Friday, reaching $2,417.49. 493,478 shares of the company's stock were exchanged, compared to its average volume of 300,482. The firm's 50 day simple moving average is $2,402.07 and its two-hundred day simple moving average is $2,301.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market cap of $122.57 billion, a price-to-earnings ratio of 59.71, a P/E/G ratio of 1.57 and a beta of 1.49. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the business posted $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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.