MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Decreased by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its holdings in MercadoLibre by 11.9% during the first quarter, maintaining it as their largest investment, now constituting 6.4% of their portfolio.
• MercadoLibre's stock opened at $2,391.05, with a market cap of $121.23 billion and a PE ratio of 58.81.
• The company reported earnings of $9.74 per share, exceeding analysts' expectations, and achieved a revenue of $5.94 billion, representing a year-over-year increase of 37.0%.

Baillie Gifford & Co. cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,784,477 shares of the company's stock after selling 511,949 shares during the quarter. MercadoLibre accounts for 6.4% of Baillie Gifford & Co.'s investment portfolio, making the stock its biggest holding. Baillie Gifford & Co. owned approximately 7.46% of MercadoLibre worth $7,383,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Texas Yale Capital Corp. grew its position in shares of MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after purchasing an additional 5 shares during the period. Meiji Yasuda Life Insurance Co grew its position in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC grew its position in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after purchasing an additional 5 shares during the period. Revolve Wealth Partners LLC grew its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after purchasing an additional 5 shares during the period. Finally, Sonora Investment Management Group LLC grew its position in MercadoLibre by 3.1% during the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.1%

MercadoLibre stock opened at $2,391.05 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20. The business's 50-day simple moving average is $2,480.35 and its 200-day simple moving average is $2,198.06. The firm has a market capitalization of $121.23 billion, a PE ratio of 58.81, a PEG ratio of 1.42 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,579.78 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company's quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.78 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Barclays lowered their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research report on Wednesday. Jefferies Financial Group reissued a "hold" rating and set a $2,800.00 price target (up previously from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Finally, Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,639.69.

MercadoLibre Company 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.

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