Sumitomo Mitsui Trust Group Inc. Sells 8,090 Shares of MercadoLibre, Inc. $MELI

Sumitomo Mitsui Trust Group Inc. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,540 shares of the company’s stock after selling 8,090 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.42% of MercadoLibre worth $496,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lavaca Capital LLC increased its stake in MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after acquiring an additional 1,065,530 shares during the last quarter. Norges Bank bought a new position in shares of MercadoLibre in the 2nd quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of MercadoLibre by 304.7% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after buying an additional 192,071 shares during the last quarter. Durable Capital Partners LP boosted its stake in MercadoLibre by 155.3% in the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after buying an additional 90,026 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. UBS Group reduced their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Morgan Stanley increased their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. BTIG Research reissued a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Thursday, December 4th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, Benchmark dropped their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

Insider Activity at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 over the last quarter. Company insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 0.1%

Shares of MELI stock opened at $2,178.41 on Monday. The stock has a 50-day moving average of $2,062.64 and a 200-day moving average of $2,251.07. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 1.08 and a beta of 1.42. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company posted $7.83 EPS. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share 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.