Zevenbergen Capital Investments LLC Has $236.36 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in MercadoLibre, Inc. by 5.1% in the first quarter, holding 121,154 shares valued at approximately $236.36 million.
• Institutional ownership of MercadoLibre is notably high, with 87.62% of the company's stock owned by various institutional investors, reflecting increased interest in the company's potential.
• MercadoLibre's recent earnings report showed a revenue of $6.79 billion for the quarter, surpassing analysts' expectations, although earnings per share missed estimates at $10.31.

Zevenbergen Capital Investments LLC lessened its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,154 shares of the company's stock after selling 6,534 shares during the quarter. MercadoLibre accounts for 5.8% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 3rd largest position. Zevenbergen Capital Investments LLC owned about 0.24% of MercadoLibre worth $236,356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the last quarter. Capital International Investors increased its stake in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after buying an additional 470,829 shares during the period. Capital World Investors increased its stake in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD increased its stake in MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after buying an additional 405,425 shares during the period. Finally, Jennison Associates LLC increased its stake in MercadoLibre by 1.6% in the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after buying an additional 18,731 shares during the period. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MELI. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target on the stock. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Wedbush reduced their price target on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating on the stock in a research note on Tuesday. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Stock Up 0.8%

NASDAQ:MELI opened at $2,353.70 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $119.33 billion, a P/E ratio of 58.13, a P/E/G ratio of 1.44 and a beta of 1.46. 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's 50-day simple moving average is $2,437.60 and its 200-day simple moving average is $2,244.85.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business posted $10.48 earnings per share. The firm's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.

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