Jennison Associates LLC Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Jennison Associates LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,131,538 shares of the company's stock after selling 101,892 shares during the period. MercadoLibre comprises 2.5% of Jennison Associates LLC's portfolio, making the stock its 9th largest holding. Jennison Associates LLC owned 4.22% of MercadoLibre worth $3,349,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $28,000. Archer Investment Corp purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $31,000. Proffitt & Goodson Inc. purchased a new stake in shares of MercadoLibre in the third quarter valued at about $32,000. NBC Securities Inc. purchased a new stake in shares of MercadoLibre in the third quarter valued at about $35,000. Finally, Blue Trust Inc. lifted its stake in shares of MercadoLibre by 56.3% during the fourth quarter. Blue Trust Inc. now owns 25 shares of the company's stock valued at $39,000 after buying an additional 9 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. Susquehanna raised their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a "positive" rating in a research note on Friday, February 23rd. Barclays lowered their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 3rd. Citigroup lowered their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a "buy" rating on the stock in a research note on Wednesday, March 27th. StockNews.com cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,813.85.

MercadoLibre Stock Performance

Shares of NASDAQ MELI traded up $11.80 during midday trading on Monday, hitting $1,368.23. 389,316 shares of the company's stock were exchanged, compared to its average volume of 387,125. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company's 50 day moving average price is $1,552.54 and its 200 day moving average price is $1,528.67. The firm has a market capitalization of $69.37 billion, a PE ratio of 70.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business's revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.25 earnings per share. As a group, analysts predict that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal year.

About MercadoLibre

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.