SVB Wealth LLC Sells 107 Shares of MercadoLibre, Inc. $MELI

Key Points

• SVB Wealth LLC reduced its holdings in MercadoLibre, Inc. by 51.9% in Q1, now owning 99 shares valued at approximately $193,000.
• Institutional investors control 87.62% of MercadoLibre's stock, with Assenagon Asset Management increasing its stake by 170.9% during the quarter.
• MercadoLibre's latest earnings report revealed a 33.8% increase in revenue year-over-year, but the EPS of $10.31 missed the consensus estimate by $1.70.

SVB Wealth LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 51.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99 shares of the company's stock after selling 107 shares during the quarter. SVB Wealth LLC's holdings in MercadoLibre were worth $193,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Jennison Associates LLC boosted its holdings in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. grew its holdings in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. GQG Partners LLC grew its stake in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after acquiring an additional 87,912 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MercadoLibre by 14.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 454,150 shares of the company's stock worth $772,255,000 after purchasing an additional 57,806 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of MercadoLibre by 18.7% in the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company's stock worth $878,757,000 after buying an additional 70,834 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Benchmark restated a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $58.86 during midday trading on Thursday, reaching $2,472.29. The stock had a trading volume of 373,052 shares, compared to its average volume of 389,535. 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 firm's fifty day simple moving average is $2,410.93 and its 200-day simple moving average is $2,282.38. The stock has a market capitalization of $125.35 billion, a P/E ratio of 61.06, a PEG ratio of 1.56 and a beta of 1.46. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share 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 business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the firm posted $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities research analysts forecast 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.