Axiom Investors LLC DE Sells 44,846 Shares of MercadoLibre, Inc. $MELI

Axiom Investors LLC DE trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 57.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,160 shares of the company’s stock after selling 44,846 shares during the period. MercadoLibre accounts for 0.6% of Axiom Investors LLC DE’s portfolio, making the stock its 27th largest position. Axiom Investors LLC DE’s holdings in MercadoLibre were worth $66,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MELI. X Square Capital LLC raised its stake in shares of MercadoLibre by 103.2% during the 4th quarter. X Square Capital LLC now owns 3,830 shares of the company’s stock worth $7,714,000 after acquiring an additional 1,945 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in MercadoLibre by 14.3% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 800 shares of the company’s stock worth $1,611,000 after purchasing an additional 100 shares during the last quarter. TIAA Trust National Association grew its holdings in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares during the last quarter. Cerity Partners LLC increased its position in shares of MercadoLibre by 9.3% during the fourth quarter. Cerity Partners LLC now owns 4,799 shares of the company’s stock worth $9,669,000 after purchasing an additional 409 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of MercadoLibre by 10.3% during the fourth quarter. LPL Financial LLC now owns 60,064 shares of the company’s stock worth $120,984,000 after purchasing an additional 5,621 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.8%

NASDAQ MELI opened at $1,641.16 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a market capitalization of $83.21 billion, a PE ratio of 43.31, a P/E/G ratio of 0.99 and a beta of 1.36. The company has a fifty day moving average of $1,721.27 and a 200 day moving average of $1,880.43.

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

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price target for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Scotiabank lowered their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

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.