Motley Fool Wealth Management LLC Sells 3,516 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Motley Fool Wealth Management LLC reduced its position in MercadoLibre, Inc. by 12.4%, now holding 24,739 shares worth approximately $48.26 million.
• MercadoLibre's latest earnings report showed a miss in EPS estimates, reporting $10.31 compared to an expected $12.01, but revenues increased by 33.8% year-over-year.
• Analysts maintain a consensus rating of "Moderate Buy" for MercadoLibre, with a target price averaging around $2,795.00.

Motley Fool Wealth Management LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,739 shares of the company's stock after selling 3,516 shares during the period. MercadoLibre comprises 2.9% of Motley Fool Wealth Management LLC's investment portfolio, making the stock its 5th biggest position. Motley Fool Wealth Management LLC's holdings in MercadoLibre were worth $48,264,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MELI. Independent Advisor Alliance grew its stake in MercadoLibre by 1.8% during the 1st quarter. Independent Advisor Alliance now owns 790 shares of the company's stock worth $1,542,000 after purchasing an additional 14 shares in the last quarter. SouthState Corp acquired a new position in MercadoLibre during the 1st quarter worth $41,000. Nuveen LLC acquired a new position in MercadoLibre during the 1st quarter worth $143,367,000. Virtu Financial LLC grew its stake in MercadoLibre by 732.7% during the 1st quarter. Virtu Financial LLC now owns 4,605 shares of the company's stock worth $8,983,000 after purchasing an additional 4,052 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in MercadoLibre during the 1st quarter worth $10,919,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MELI shares. Susquehanna restated a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Scotiabank started coverage on MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target on the stock. Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Stock Performance

NASDAQ MELI traded up $58.79 during trading hours on Tuesday, hitting $2,350.83. The company had a trading volume of 408,560 shares, compared to its average volume of 349,833. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The company has a market cap of $119.19 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.46 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. The business has a 50 day moving average of $2,426.54 and a 200-day moving average of $2,251.59.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm posted $10.48 earnings per share. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current 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.