MercadoLibre, Inc. $MELI Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,235,240 shares of the company’s stock after acquiring an additional 81,124 shares during the period. MercadoLibre accounts for 1.9% of Jennison Associates LLC’s portfolio, making the stock its 10th largest position. Jennison Associates LLC owned 2.44% of MercadoLibre worth $3,228,460,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Highline Wealth Partners LLC grew its holdings in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.3%

MELI opened at $2,290.14 on Wednesday. The stock has a market capitalization of $116.11 billion, a P/E ratio of 56.56, a P/E/G ratio of 1.55 and a beta of 1.46. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm’s fifty day simple moving average is $2,312.95 and its 200 day simple moving average is $2,366.69. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the firm earned $10.48 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MELI shares. Scotiabank started coverage on shares of MercadoLibre in a report on Monday, July 28th. They issued a “sector outperform” rating and a $3,500.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Raymond James Financial reissued a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reissued a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, October 21st. Finally, Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,799.12.

MercadoLibre Profile

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.