Zevenbergen Capital Investments LLC Reduces Stake in MercadoLibre, Inc. $MELI

Key Points

• Zevenbergen Capital Investments cut its MercadoLibre stake by 18.2% in the third quarter, selling 12,247 shares and retaining 55,119 shares worth approximately $95.3 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates of $8.65, while revenue reached $10.17 billion and grew 49.8% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $2,251.88 versus the reported share price of $1,856.66.

Zevenbergen Capital Investments LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 55,119 shares of the company's stock after selling 12,247 shares during the period. MercadoLibre accounts for about 2.2% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 15th largest position. Zevenbergen Capital Investments LLC owned 0.11% of MercadoLibre worth $95,275,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. YHB Investment Advisors Inc. increased its holdings in shares of MercadoLibre by 2.5% in the 3rd quarter. YHB Investment Advisors Inc. now owns 1,149 shares of the company's stock valued at $1,986,000 after acquiring an additional 28 shares during the period. Apella Capital LLC purchased a new stake in shares of MercadoLibre during the 3rd quarter worth $719,000. Avidian Wealth Enterprises LLC purchased a new stake in shares of MercadoLibre during the 3rd quarter worth $207,000. Quintet Private Bank Europe S.A. boosted its position in MercadoLibre by 13.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 423 shares of the company's stock valued at $731,000 after purchasing an additional 49 shares in the last quarter. Finally, Matrix Trust Co boosted its position in MercadoLibre by 1.3% during the third quarter. Matrix Trust Co now owns 458 shares of the company's stock valued at $792,000 after purchasing an additional 6 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded down $16.12 during midday trading on Thursday, reaching $1,856.66. The company had a trading volume of 273,824 shares, compared to its average volume of 541,762. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The business's 50-day simple moving average is $1,864.15 and its 200 day simple moving average is $1,774.90. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,428.00. The stock has a market cap of $94.13 billion, a P/E ratio of 50.49, a P/E/G ratio of 1.30 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm's revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.31 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 38.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BTIG Research reiterated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Citigroup increased their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc NASDAQ: MELI operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.

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