MercadoLibre, Inc. $MELI Stock Holdings Cut by Atika Capital Management LLC

Atika Capital Management LLC lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 24.2% during the first quarter, Holdings Channel reports. The institutional investor owned 4,510 shares of the company’s stock after selling 1,437 shares during the quarter. MercadoLibre makes up approximately 1.0% of Atika Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Atika Capital Management LLC’s holdings in MercadoLibre were worth $7,798,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors grew its holdings in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the period. Norges Bank acquired a new stake in MercadoLibre in the 4th quarter valued at about $597,045,000. Marshall Wace LLP lifted its holdings in MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after acquiring an additional 202,322 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Trading Down 0.0%

MercadoLibre stock opened at $1,798.70 on Friday. The company has a 50 day moving average price of $1,700.85 and a 200 day moving average price of $1,815.91. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a market capitalization of $91.19 billion, a price-to-earnings ratio of 47.47, a P/E/G ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period last year, the firm earned $9.74 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current year.

About MercadoLibre

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.