MercadoLibre, Inc. (NASDAQ:MELI) is Perpetual Ltd's Largest Position

Perpetual Ltd lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,638 shares of the company's stock after selling 13,564 shares during the quarter. MercadoLibre makes up approximately 3.2% of Perpetual Ltd's portfolio, making the stock its largest holding. Perpetual Ltd owned about 0.27% of MercadoLibre worth $266,563,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MELI. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock valued at $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its stake in MercadoLibre by 0.3% in the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock valued at $2,779,000 after acquiring an additional 5 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in MercadoLibre by 0.5% during 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 last quarter. Formidable Asset Management LLC boosted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Finally, Revolve Wealth Partners LLC increased its stake in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MELI shares. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price target (up from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Barclays boosted their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price target (up from $2,840.00) on shares of MercadoLibre in a report on Thursday. UBS Group set a $3,000.00 price target on MercadoLibre in a research report on Monday, June 2nd. Finally, Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $0.15 during midday trading on Friday, hitting $2,560.05. 295,819 shares of the company's stock were exchanged, compared to its average volume of 386,794. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The business's fifty day moving average price is $2,422.92 and its two-hundred day moving average price is $2,104.82. The company has a market cap of $129.79 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 1.51 and a beta of 1.51. MercadoLibre, Inc. has a 12-month low of $1,563.21 and a 12-month high of $2,635.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. MercadoLibre's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.78 earnings per share. As a group, 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.