Geode Capital Management LLC Reduces Stock Position in MercadoLibre, Inc. $MELI

Geode Capital Management LLC lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 12.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,596 shares of the company’s stock after selling 8,364 shares during the quarter. Geode Capital Management LLC owned 0.12% of MercadoLibre worth $118,813,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Hardy Reed LLC raised its stake in MercadoLibre by 4.0% during the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after purchasing an additional 5 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares during the last quarter. Interchange Capital Partners LLC grew its holdings in MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in MercadoLibre by 5.6% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 114 shares of the company’s stock worth $298,000 after acquiring an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MELI shares. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Finally, Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Performance

MELI opened at $1,607.80 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36. The firm has a 50 day moving average of $1,720.81 and a two-hundred day moving average of $1,887.84.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business posted $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.