MercadoLibre, Inc. $MELI Position Decreased by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,246 shares of the company’s stock after selling 21,341 shares during the quarter. MercadoLibre accounts for approximately 23.2% of Northcape Capital Pty Ltd’s portfolio, making the stock its 2nd largest holding. Northcape Capital Pty Ltd owned about 0.20% of MercadoLibre worth $171,854,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

MercadoLibre Trading Up 0.2%

NASDAQ:MELI opened at $1,824.34 on Tuesday. The company has a market capitalization of $92.49 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a fifty day simple moving average of $1,749.73 and a 200-day simple moving average of $1,793.59.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 40.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MELI. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Benchmark lowered their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.