MercadoLibre, Inc. $MELI Shares Sold by Infusive Asset Management Inc.

Infusive Asset Management Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 50.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,415 shares of the company's stock after selling 1,429 shares during the period. MercadoLibre accounts for approximately 1.2% of Infusive Asset Management Inc.'s investment portfolio, making the stock its 29th largest holding. Infusive Asset Management Inc.'s holdings in MercadoLibre were worth $2,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the last quarter. Capital Research Global Investors grew its position in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Capital International Investors grew its position in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 26.4% in the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock valued at $1,216,807,000 after purchasing an additional 126,294 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Scotiabank reduced their price target on 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. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Citigroup raised their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,258.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,798.70 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The firm has a market cap of $91.19 billion, a P/E ratio of 47.47, a PEG ratio of 1.11 and a beta of 1.35. The stock has a fifty day moving average price of $1,700.85 and a two-hundred day moving average price of $1,815.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $9.74 EPS. The company's quarterly revenue was up 49.0% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company'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 completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company's stock.

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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